The Salary Needed To Buy A Home In The Nation’s Largest Housing Markets

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May 31, 2017

The average American can afford a house in Houston, Baltimore, or Minneapolis, but it will be tougher for him or her to purchase one in San Diego.

Business Insider found the salary one needs to earn to buy a home in 19 of the most expensive housing markets in America. The results are based on median home prices from the National Association of Realtors and factor in 30-year fixed-rate mortgages, property taxes, and insurance costs.

San Antonio, Philadelphia, Orlando, Minneapolis, Baltimore, Houston, Dallas, and Chicago all have median-price homes that can be affordable for workers who earn around $55,000 a year, which is near the national median.

In more pricey cities such as San Diego and San Francisco, people would need to earn a salary of $100,000 or more to afford the average home.

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