Real Estate Story

What Salary Do You Need to Buy a House in These 27 Cities Around the Country?

salary

At $230,000, the house at 9348 Highedge Cir. in Dallas costs about the average for a home here.

With home prices soaring in Dallas, many buyers wonder what it would cost to live in other cities. Turns out, inventory is tight around the nation, not just in North Texas.

In Dallas, the average home price is $230,500, a year-over-year increase of 9.76 percent, according to HSH.com. The means you need an annual salary of $53,824 to buy here—with a 20 percent down payment—and not end up house poor (with a mortgage rate average of 3.61 percent in Dallas, that’s a monthly payment of $1,256). With 10 percent down instead of 20, the required salary increases from $53,824 to $61,581.

What does it cost in 26 other cities around the country? Jump to find out!

City Salary Needed Median Home Price
San Francisco $152,173 $835,400
San Diego $108,654 $589,300
Los Angeles $100,147 $536,700
Boston $86,054 $435,300
New York City $85,488 $397,600
Seattle $81,774 $422,100
Washington $78,460 $393,500
Denver $70,741 $386,800
Portland $69,786 $358,500
Miami $64,879 $315,000
Sacramento $64,748 $327,000
Chicago $61,291 $244,100
Baltimore $55,935 $264,300
Dallas $53,824 $230,500
Philadelphia $53,108 $234,800
Houston $51,560 $217,400
Minneapolis $50,630 $240,300
Orlando $49,811 $229,900
San Antonio $48,341 $212,300
Tampa $44,897 $205,000
Phoenix $44,129 $235,300
Atlanta $39,385 $191,500
Detroit $39,033 $170,817
St. Louis $37,527 $170,000
Cincinnati $36,117 $157,000
Cleveland $34,185 $138,900
Pittsburgh $31,962 $140,000

Source: HSH