Here’s How Much You Have To Earn To Buy A Home In 18 Major US Markets

Here’s How Much You Have To Earn To Buy A Home In 18 Major US Markets

Mortgage website HSH.com looked at median home prices from the National Association of Realtors. It took into account interest rates for common 30-year fixed-rate mortgages and property taxes and insurance costs to figure out how much money it would take to pay a median-priced home’s mortgage, taxes, and insurance in each city, and how much you’d have to earn to afford it.

HSH.com emphasizes that this is only the base cost of owning a home, without taking into account maintenance and other incidentals.

The site also calculated how it would change the salary needed to buy a home if a buyer were to put 10% down instead of the recommended 20%. No matter where you are, putting down less makes things more expensive — you can visit HSH.com to see both numbers.

Salaries are listed from lowest to highest needed and are rounded to the nearest $500.

18. Orlando

Homes in this Orlando, Florida, neighborhood are listed for about $230,000.Google Maps

Population: 255,483

Median home price: $229,900

Monthly mortgage payment: $1,162

Salary needed to buy: $50,000

17. Minneapolis

Homes in this Minneapolis, Minnesota, neighborhood are listed for about $240,000.Google Maps

Population: 407,207

Median home price: $240,300

Monthly mortgage payment: $1,181

Salary needed to buy: $50,500

16. Houston

Homes in this Houston, Texas, neighborhood are listed for about $217,000.Google Maps

Population: 2,076,189

Median home price: $217,400

Monthly mortgage payment: $1,203

Salary needed to buy: $51,500

15. Philadelphia

Homes in this Philadelphia, Pennsylvania, neighborhood are listed for about $230,000.Google Maps

Population: 1,517,628

Median home price: $234,800

Monthly mortgage payment: $1,239

Salary needed to buy: $53,000

14. Dallas

Homes in this Dallas, Texas, neighborhood are listed for about $232,200.Google Maps

Population: 2,518,638

Median home price: $230,500

Monthly mortgage payment: $1,255

Salary needed to buy: $54,000

13. Baltimore

Homes in this Baltimore, Maryland, neighborhood are listed for about $265,000.Google Maps

Population: 640,064

Median home price: $264,300

Monthly mortgage payment: $1,305

Salary needed to buy: $56,000

12. Chicago

Homes in this Chicago, Illinois, neighborhood are listed for about $246,400.Google Maps

Population: 2,824,584

Median home price: $244,100

Monthly mortgage payment: $1,430

Salary needed to buy: $61,000

11. Sacramento

Homes in this Sacramento, California, neighborhood are listed for about $330,000.Google Maps

Population: 479,686

Median home price: $327,000

Monthly mortgage payment: $1,510

Salary needed to buy: $64,500

10. Miami

Homes in this Miami, Florida, neighborhood are listed for about $310,000.Google Maps

Population: 417,650

Median home price: $315,000

Monthly mortgage payment: $1,513

Salary needed to buy: $65,000

9. Portland

Homes in this Portland, Oregon, neighborhood are listed for about $356,700.Google Maps

Population: 609,456

Median home price: $358,500

Monthly mortgage payment $1,628

Salary needed to buy: $70,000

8. Denver

Homes in this Denver, Colorado, neighborhood are listed for about $385,000.Google Maps

Population: 649,495

Median home price: $386,800

Monthly mortgage payment: $1,650

Salary needed to buy: $70,500

7. Washington, DC

Homes in this Washington, DC, neighborhood are listed for about $395,000.Google Maps

Population: 582,049

Median home price: $393,500

Monthly mortgage payment: $1,830

Salary needed to buy: $78,500

6. Seattle

Homes in this Seattle, Washington, neighborhood are listed for about $420,500.Google Maps

Population: 652,405

Median home price: $422,100

Monthly mortgage payment: $1,908

Salary needed to buy: $82,000

5. New York City

Homes in this New York, New York, neighborhood are listed for about $395,000.Google Maps

Population: 8,213,839

Median home price: $397,600

Monthly mortgage payment: $1,994

Salary needed to buy: $85,500

4. Boston

Homes in this Boston, Massachusetts, neighborhood are listed for about $435,000.Google Maps

Population: 645,966

Median home price: $435,300

Monthly mortgage payment: $2,007

Salary needed to buy: $86,000

3. Los Angeles

Homes in this Los Angeles, California, neighborhood are listed for about $536,000.Google Maps

Population: 3,794,640

Median home price: $536,700

Monthly mortgage payment: $2,336

Salary needed to buy: $100,000

2. San Diego

Homes in this San Diego, California, neighborhood are listed for about $589,900.Google Maps

Population: 1,284,347

Median home price: $589,300

Monthly mortgage payment: $2,535

Salary needed to buy: $108,500

1. San Francisco

Homes in this San Francisco, California, neighborhood are listed for about $835,000.Google Maps

Population: 777,660

Median home price: $835,400

Monthly mortgage payment: $3,550

Salary needed to buy: $152,000
via BI

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