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]
