Here's How Much Money You Must Earn To Buy A Home In 25 Big US Cities (2024)

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Megan Willett-Wei

2014-02-18T17:27:00Z

Here's How Much Money You Must Earn To Buy A Home In 25 Big US Cities (1)

The cost of living in America varies wildly.

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In Cleveland, people need a base salary of at least $19,435 a year to afford the average home, while San Franciscans must make upward of $115,000 annually.

HSH.com, an online mortgage and consumer loan information website, figured out how much a person would have to earn to afford a home in 25 of the country's largest metropolitan areas.

To do so, HSH looked at the National Association of Realtors' fourth-quarter data for median home prices and HSH.com's fourth-quarter average interest rate for 30-year, fixed-rate mortgages to determine how much money homebuyers would need to earn in order to afford only the principal and interest payment on a median-priced home in their market. (They did not account forproperty taxes, insurance, and other expenses —read their methodology here.)

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CLEVELAND: You'd have to earn at least $19,435 to buy an average home.

Here's How Much Money You Must Earn To Buy A Home In 25 Big US Cities (2)

Average home price: $112,800

Monthly mortgage payment: $453.49

Minimum annualsalary: $19,435.17

Source: HSH.com. See their full methodology here

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CINCINNATI: You'd have to earn at least $22,227 to buy an average home.

Here's How Much Money You Must Earn To Buy A Home In 25 Big US Cities (3)

Average home price: $128,700

Monthly mortgage payment:$518.63

Minimum annualsalary:$22,226.95

Source:HSH.com.See their full methodology here

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ST. LOUIS: You'd have to earn at least $22,398 to buy an average home.

Here's How Much Money You Must Earn To Buy A Home In 25 Big US Cities (4)

Average home price: $130,300

Monthly mortgage payment: $522.61

Minimum annualsalary: $22,397.54

Source:HSH.com.See their full methodology here

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ATLANTA: You'd have to earn at least $24,391 to buy an average home.

Here's How Much Money You Must Earn To Buy A Home In 25 Big US Cities (5)

Average home price: $142,400

Monthly mortgage payment: $569.12

Minimum annualsalary:$24,390.94

Source:HSH.com.See their full methodology here

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TAMPA: You'd have to earn at least $24,651 to buy an average home.

Here's How Much Money You Must Earn To Buy A Home In 25 Big US Cities (6)

Average home price:$142,400

Monthly mortgage payment: $575.19

Minimum annualsalary: $24,650.88

Source:HSH.com.See their full methodology here

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ORLANDO: You'd have to earn at least $28,298 to buy an average home.

Here's How Much Money You Must Earn To Buy A Home In 25 Big US Cities (7)

Average home price:$165,800

Monthly mortgage payment: $660.30

Minimum annualsalary: $28,298.47

Source:HSH.com.See their full methodology here

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SAN ANTONIO: You'd have to earn at least $29,305 to buy an average home.

Here's How Much Money You Must Earn To Buy A Home In 25 Big US Cities (8)

Average home price: $171,700

Monthly mortgage payment:$683.79

Minimum annualsalary:$29,305.47

Source:HSH.com.See their full methodology here

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DALLAS: You'd have to earn at least $29,751 to buy an average home.

Here's How Much Money You Must Earn To Buy A Home In 25 Big US Cities (9)

Average home price:$173,900

Monthly mortgage payment:$694.20

Minimum annualsalary:$29,751.24

Source:HSH.com.See their full methodology here

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HOUSTON: You'd have to earn at least $31,299 to buy an average home.

Here's How Much Money You Must Earn To Buy A Home In 25 Big US Cities (10)

Average home price: $182,300

Monthly mortgage payment:$730.31

Minimum annualsalary: $31,298.99

Source:HSH.com.See their full methodology here

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CHICAGO: You'd have to earn at least $32,389 to buy an average home.

Here's How Much Money You Must Earn To Buy A Home In 25 Big US Cities (11)

Average home price:$187,100

Monthly mortgage payment:$755.74

Minimum annualsalary:$32,388.90

Source:HSH.com.See their full methodology here

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PHOENIX: You'd have to earn at least $32,812 to buy an average home.

Here's How Much Money You Must Earn To Buy A Home In 25 Big US Cities (12)

Average home price:$192,700

Monthly mortgage payment:$765.61

Minimum annualsalary: $32,811.94

Source:HSH.com.See their full methodology here

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MINNEAPOLIS: You'd have to earn at least $33,800 to buy an average home.

Here's How Much Money You Must Earn To Buy A Home In 25 Big US Cities (13)

Average home price:$197,100

Monthly mortgage payment: $788.67

Minimum annualsalary: $33,800.09

Source:HSH.com.See their full methodology here

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PHILADELPHIA: You'd have to earn at least $36,836 to buy an average home.

Here's How Much Money You Must Earn To Buy A Home In 25 Big US Cities (14)

Average home price:$214,300

Monthly mortgage payment:$859.52

Minimum annualsalary:$36,836.47

Source:HSH.com.See their full methodology here

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BALTIMORE: You'd have to earn at least $41,155 to buy an average home.

Here's How Much Money You Must Earn To Buy A Home In 25 Big US Cities (15)

Average home price:$241,700

Monthly mortgage payment:$960.29

Minimum annualsalary:$41,155.40

Source:HSH.com.See their full methodology here

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SACRAMENTO: You'd have to earn at least $42,832 to buy an average home.

Here's How Much Money You Must Earn To Buy A Home In 25 Big US Cities (16)

Average home price:$250,360

Monthly mortgage payment:$999.42

Minimum annualsalary:$42,832.20

Source:HSH.com.See their full methodology here

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MIAMI: You'd have to earn at least $43,918 to buy an average home.

Here's How Much Money You Must Earn To Buy A Home In 25 Big US Cities (17)

Average home price:$254,900

Monthly mortgage payment:$1,024.77

Minimum annualsalary:$43,918.66

Source:HSH.com.See their full methodology here

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PORTLAND (OR): You'd have to earn at least $45,872 to buy an average home.

Here's How Much Money You Must Earn To Buy A Home In 25 Big US Cities (18)

Average home price:$267,500

Monthly mortgage payment:$1,070.36

Minimum annualsalary: $45,872.78

Source:HSH.com.See their full methodology here

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DENVER: You'd have to earn at least $48,123 to buy an average home.

Here's How Much Money You Must Earn To Buy A Home In 25 Big US Cities (19)

Average home price:$279,300

Monthly mortgage payment:$1,122.86

Minimum annualsalary:$48,122.72

Source:HSH.com.See their full methodology here

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SEATTLE: You'd have to earn at least $59,130 to buy an average home.

Here's How Much Money You Must Earn To Buy A Home In 25 Big US Cities (20)

Average home price:$344,400

Monthly mortgage payment:$1,379.70

Minimum annualsalary:$59,129.86

Source:HSH.com.See their full methodology here

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WASHINGTON, D.C.: You'd have to earn at least $62,810 to buy an average home.

Here's How Much Money You Must Earn To Buy A Home In 25 Big US Cities (21)

Average home price:$368,000

Monthly mortgage payment:$1,465.56

Minimum annualsalary:$62,809.63

Source:HSH.com.See their full methodology here

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BOSTON: You'd have to earn at least $63,673 to buy an average home.

Here's How Much Money You Must Earn To Buy A Home In 25 Big US Cities (22)

Average home price:$371,300

Monthly mortgage payment:$1,485.71

Minimumannual salary: $63,673.13

Source:HSH.com.See their full methodology here

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NEW YORK CITY: You'd have to earn at least $66,167 to buy an average home.

Here's How Much Money You Must Earn To Buy A Home In 25 Big US Cities (23)

Average home price:$386,300

Monthly mortgage payment:$1,543.90

Minimum annualsalary:$66,167.27

Source:HSH.com.See their full methodology here

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LOS ANGELES: You'd have to earn at least $72,127 to buy an average home.

Here's How Much Money You Must Earn To Buy A Home In 25 Big US Cities (24)

Average home price:$423,900

Monthly mortgage payment:$1,682.96

Minimum annualsalary:$72,126.90

Source:HSH.com.See their full methodology here

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SAN DIEGO: You'd have to earn at least $81,570 to buy an average home.

Here's How Much Money You Must Earn To Buy A Home In 25 Big US Cities (25)

Average home price:$476,790

Monthly mortgage payment:$1,903.31

Minimum annualsalary:$81,570.40

Source:HSH.com.See their full methodology here

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SAN FRANCISCO :You'd have to earn at least $115,510 to buy an average home.

Here's How Much Money You Must Earn To Buy A Home In 25 Big US Cities (26)

Average home price:$682,410

Monthly mortgage payment:$2,695.23

Minimum annualsalary: $115,510.06

Source:HSH.com.See their full methodology here

Here's How Much Money You Must Earn To Buy A Home In 25 Big US Cities (2024)

CLEVELAND: You'd have to earn at least $19,435 to buy an average home.

CINCINNATI: You'd have to earn at least $22,227 to buy an average home.

ST. LOUIS: You'd have to earn at least $22,398 to buy an average home.

ATLANTA: You'd have to earn at least $24,391 to buy an average home.

TAMPA: You'd have to earn at least $24,651 to buy an average home.

ORLANDO: You'd have to earn at least $28,298 to buy an average home.

SAN ANTONIO: You'd have to earn at least $29,305 to buy an average home.

DALLAS: You'd have to earn at least $29,751 to buy an average home.

HOUSTON: You'd have to earn at least $31,299 to buy an average home.

CHICAGO: You'd have to earn at least $32,389 to buy an average home.

PHOENIX: You'd have to earn at least $32,812 to buy an average home.

MINNEAPOLIS: You'd have to earn at least $33,800 to buy an average home.

PHILADELPHIA: You'd have to earn at least $36,836 to buy an average home.

BALTIMORE: You'd have to earn at least $41,155 to buy an average home.

SACRAMENTO: You'd have to earn at least $42,832 to buy an average home.

MIAMI: You'd have to earn at least $43,918 to buy an average home.

PORTLAND (OR): You'd have to earn at least $45,872 to buy an average home.

DENVER: You'd have to earn at least $48,123 to buy an average home.

SEATTLE: You'd have to earn at least $59,130 to buy an average home.

WASHINGTON, D.C.: You'd have to earn at least $62,810 to buy an average home.

BOSTON: You'd have to earn at least $63,673 to buy an average home.

NEW YORK CITY: You'd have to earn at least $66,167 to buy an average home.

LOS ANGELES: You'd have to earn at least $72,127 to buy an average home.

SAN DIEGO: You'd have to earn at least $81,570 to buy an average home.

SAN FRANCISCO :You'd have to earn at least $115,510 to buy an average home.

You'd have to earn a lot more to live here.

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