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How Much Salary Do You Need to Buy A House in a Big U.S. City?


How Much Salary Do You Need to Buy A House in a Big U.S. City?

October 11, 2019
Image by PublicDomainPictures from Pixabay estimates the annual income needed to qualify for a mortgage on a median priced home in the 50 largest metro markets, in the mortgage rate tracker’s latest quarterly report.

California was pricey with San Jose, San Francisco, San Diego, and Los Angeles ranking one through four as the most expensive markets. To make the monthly $5,830.64 payment on a $1.3 million home in San Jose, the required annual salary would be $249, 885. Those figures assume a 20% down payment on a fixed 30-year loan.

To see the top 10 U.S. markets with the highest incomes required to buy a median priced home …

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