Economy

The Salary Needed to buy a Home in 27 U.S Cities

Sold Home For Sale Sign and House

Washington Post:

“On a national scale, a buyer who puts 20 percent down would need to earn a salary of $48,604 to afford the median-priced home in America. But that total varies a lot from city to city. Pittsburgh, Cleveland, St. Louis and Cincinnati rank as the most affordable metros in which to buy a new home – HSH.com estimates that you can buy the median home while making less than $34,000 – while New York, Los Angeles and San Diego are at the high end, requiring salaries of nearly $90,000 or more.”

San Francisco was by far the most expensive city to buy a house by far, where the site estimates you would need to make $142,448 to buy the median home in the area. Pittsburgh barely beat out Cincinnati and Cleveland for the cheapest metro area to buy a house of the 27 cities looked at in the study.

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Categories: Economy

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