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