Looking to become a homeowner, but don’t want to end up house poor? To afford the national median home price of $222,700, you’ll need an annual salary of $51,115.
Here’s how much you need to earn to afford buying a home in 27 metro areas across the country, according toHSH.com.
- City
- Salary Needed
- Median Home Price
- Monthly payment
-
San Francisco*$147,996$781,600$3,453
-
San Diego*$103,165$546,800$2,407
-
Los Angeles$95,040$481,900$2,218
-
New York City$86,770$384,600$2,025
-
Boston$83,151$393,600$1,940
-
Washington$78,626$371,600$1,835
-
Seattle$78,425$385,300$1,830
-
Denver$68,436$353,500$1,597
-
Portland$65,917$318,800$1,538
-
Miami$63,048$286,000$1,471
-
Sacramento$62,143$294,100$1,450
-
Chicago$57,983$209,800$1,353
-
Baltimore$52,865$233,500$1,234
-
Houston$52,164$209,200$1,217
-
Dallas$51,806$206,200$1,209
-
Philadelphia$51,622$213,700$1,205
-
Minneapolis$50,251$223,700$1,173
-
Orlando$47,811$205,000$1,116
-
San Antonio$46,975$192,100$1,096
-
Phoenix$43,938$221,000$1,025
-
Tampa$41,923$175,100$978
-
Atlanta$37,551$169,200$876
-
Detroit$36,915$148,667$861
-
St Louis$34,778$143,700$811
-
Cincinnati$33,967$136,600$793
-
Cleveland$32,523$121,800$759
-
Pittsburgh$31,134$128,000$726
[SOURCE :-money.cnn]
