Do you have any idea how many variables are involved in those questions? In SE Michigan a fairly average stick built house is about 1500-2500 square ft and most have basements. There are a LOT of McMansions in the subdivisions that are more by far but 2000 sf is a fairly good average. Head out to the countryside and you will see a lot more double wide trailers, some made into fairly nice little homes, sitting on basement foundations, etc, but realize that a double 14x70 is still almost 2K sf.
On the tax side you have numerous filing status options and other variables. Assuming a married filing joint status and no deductions, you would be looking at a 15% bracket (which actually can work out to less than 15% federal tax) BUT keep in mind most taxpayers, but not all, pay FICA taxes so, assuming gross of %40K you would have about $2111 federal, $1364 Michigan, and $3060 FICA for a net of about $33,465. All approximates based on assumptions I made up. You can live on that. I see it every day. BUT, you will eat cheap, there will be no luxuries, and you better hope your employer covers the benefits. IMHO, Dave H, CPA
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