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Home plate: Which MLB player scores in their new housing market?

 

Did Major League Baseball players who switched teams this off-season come out winners or losers in their new housing markets? We crunched the numbers to see how 10 notable players will fare with housing costs and mortgage rates in their new cities.

To compare, we used the home prices from the National Association of Realtors fourth quarter 2010 survey (except Detroit, which comes from Realcomp) and the average mortgage rate in the fourth quarter of 2010, as surveyed by HSH.com. Median income for the cities was gathered from the U.S. Census. (Images from AP Photos)

Who hit a home run in their new market? Read on...

Manny Ramirez1. Player: Manny Ramirez

Old team: Chicago White Sox

Median salary in Chicago: $66,806

Median home price: $183,400

Average mortgage rate: 4.67%

New Team: Tampa Bay Rays

Manny’s annual salary in Tampa: $2 million

Median salary in Tampa: $53,509

Median home price: $131,600

Average mortgage rate: 4.5%

With his 2011 salary of $2 million, Manny could buy 15 median priced homes in Tampa

Winner: In Tampa, Ramirez will pay $51,800 less for a home and his interest rate will be 0.17% lower.


Slideshow: Which MLB player scores in their new housing market?

 

Johnny Damon2. Player: Johnny Damon

Old team: Detroit Tigers

Median salary in Detroit: $56,681

Median home price: $66,300

Average mortgage rate: 4.59%

New Team: Tampa Bay Rays

Johnny’s annual salary in Tampa: $5.25 million

Median salary in Tampa: $56,681

Median home price: $131,600

Average mortgage rate: 4.5%

With his 2011 salary of $5.25 million, Johnny could buy 40 median priced homes in Tampa

Loser: In Tampa, Damon will pay $65,300 more for a home, but his interest rate will be 0.09% lower.

 

Jayson Werth3. Player: Jayson Werth

Old team: Philadelphia Phillies

Median salary in Philadelphia: $62,185

Median home price: $215,500

Average mortgage rate: 4.51%

New Team: Washington Nationals

Jayson’s annual salary in Washington: $18 million

Median salary in Washington, D.C.: $71,208

Median home price: $331,100

Average mortgage rate: 4.55%

With his 2011 salary of $18 million, Jayson could buy 54 median priced homes in Washington

Loser: In Washington, Werth will pay $115,600 more for a home and his interest rate will be 0.04% higher.

 

Carl Crawford4. Player: Carl Crawford

Old team: Tampa Bay Rays

Median salary in Tampa: $53,509

Median home price: $131,600

Average mortgage rate: 4.5%

New Team: Boston Red Sox

Carl’s annual salary in Boston: $20 million

Median salary in Boston: $81,033

Median home price: $346,300

Average mortgage rate: 4.63%

With his 2011 salary of $20 million, Carl could buy 58 median priced homes in Boston

Loser: In Boston, Crawford will pay $214,700 more for a home and his interest rate will be 0.13% higher.

 

Adrian Gonzalez5. Player: Adrian Gonzalez

Old team: San Diego Padres

Median salary in San Diego: $67,038

Median home price: $381,400

Average mortgage rate: 4.63%

New Team: Boston Red Sox

Adrian’s annual salary in Boston: $22 million

Median salary in Boston: $81,033

Median home price: $346,300

Average mortgage rate: 4.63%

With his 2011 salary of $22 million, Adrian could buy 64 median priced homes in Boston

Winner: In Boston, Gonzalez will pay $35,100 less for a home and his interest rate will be stay the same.

 

Adam Dunn6. Player: Adam Dunn

Old team: Washington Nationals

Median salary in Washington, D.C.: $71,208

Median home price: $331,100

Average mortgage rate: 4.55%

New Team: Chicago White Sox

Adam’s annual salary in Chicago: $14 million

Median salary in Chicago: $66,806

Median home price: $183,400

Average mortgage rate: 4.67%

With his 2011 salary of $14 million, Adam could buy 76 median priced homes in Chicago

Winner: In Chicago, Dunn will pay $147,700 less for a home, but his interest rate will be 0.12% higher.

 

Cliff Lee7. Player: Cliff Lee

Old team: Texas Rangers

Median salary in Dallas: $56,607

Median home price: $138,300

Average mortgage rate: 4.54%

New Team: Philadelphia Phillies

Cliff’s annual salary in Philadelphia: $24 million

Median salary in Philadelphia: $62,185

Median home price: $215,500

Average mortgage rate: 4.51%

With his 2011 salary of $24 million, Cliff could buy 111 median priced homes in Philadelphia

No decision: In Philadelphia, Lee will pay $77,200 more for a home, but his interest rate will be 0.03% lower.

 

Dan Uggla8. Player: Dan Uggla

Old team: Florida Marlins

Median salary in Miami: $53,509

Median home price: $187,300

Average mortgage rate: 4.62%

New Team: Atlanta Braves

Dan’s annual salary in Atlanta: $12.4 million

Median salary in Atlanta: $56,176

Median home price: $109,200

Average mortgage rate: 4.54%

With his 2011 salary of $12.4 million, Dan could buy 114 median priced homes in Atlanta

Winner: In Atlanta, Uggla will pay $78,100 less for a home and his interest rate will be 0.08% lower.

 

Victor Martinez9. Player: Victor Martinez

Old team: Boston Red Sox

Median salary in Boston: $81,033

Median home price: $346,300

Average mortgage rate: 4.63%

New Team: Detroit Tigers

Victor’s annual salary in Detroit: $12.5 million

Median salary in Detroit: $56,681

Median home price: $66,300

Average mortgage rate: 4.59%

With his 2011 salary of $12.5 million, Victor could buy 189 median priced homes in Detroit

Winner: In Detroit, Martinez will pay $280,000 less for a home and his interest rate will be 0.04% lower.

About the author:
Tim Manni is the Managing Editor of HSH.com and the author of the site's daily blog, which concentrates on the latest developments in the mortgage and housing markets.

 

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    Home plate: Which MLB player scores in their new housing market?

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