The Real Cost of the Lottery

By Lewis Braham - 2012-11-28T21:32:58Z

Photograph by Emile Wamsteker/Bloomberg

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New House(s)

Chances are, if you win the lottery, you'll want to buy a new home. Even if you're frugal, you may not like the scrutiny you get from neighbors after winning, since names of jackpot winners are publicly disclosed. So the desire to move to a better home in another neighborhood is strong. The median home value in the U.S. is $155,400, according to Zillow. The median price for a townhouse in Manhattan, however, is $5.8 million. If you have parents or children guilt-ing you for a home too, better double the cost of a new home.

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