How Much You Must Make to Buy a House Across the U.S.

San Francisco’s median home price of $742,900 led the country’s housing market in the final quarter of last year.

Can you afford a home in some of the top metro areas across the country?

A mortgage research site has calculated the yearly salary needed for median-priced homes in markets across the country, from the priciest to more affordable cities such as Pittsburgh.

To be able to make the monthly mortgage payments in San Francisco’s expensive market, you would have to earn $142,448, according to data compiled by HSH.com.

San Francisco’s median home price of $742,900 led the country’s housing market in the final quarter of last year.

Rounding out the top five were San Diego at $95,433 a year, Los Angeles at $89,665, New York at $87,536 and Boston at $80,050.

Other selected metro areas: Washington, D.C., $77,395; Miami, $58,431; Chicago, $54,346; Philadelphia, $50,914; and Dallas, $48,787.

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HSH.com
HSH.com collected data on how much money a year you need to make in order to afford median-priced houses in 27 major U.S. cities. San Fransisco tops the list. Click through to see the rest.

The cheapest city on HSH.com’s list of 27 metro areas is Pittsburgh, where the median home price was $135,000. You would have make $31,716 to pay the principal, interest, taxes and insurance payments.

The difference between home prices in San Francisco and San Diego was nearly $250,000. The gap between San Francisco and Pittsburgh: $607,900.

Pittsburgh was the most affordable area on the list for the third quarter in a row, according to the data, which was released last month. It tied Washington, D.C., for the lowest mortgage rates at 3.98 percent.

HSH.com used fourth-quarter data for median-priced homes from the National Association of Realtors. It assumed 20 percent down and a 30-year fixed mortgage.

Fourth-quarter prices dropped when compared to the third quarter, but on a year-to-year basis, home prices continued to rise, HSH.com noted. On average they rose 25 percent over the past three years, it said.

For a home priced at the country’s median, with a 20 percent down payment, a buyer would have to make $48,604. With 10 percent down, the income needed rises to $56,140, which also includes the cost of private mortgage insurance or PMI required by the smaller down payment.

The National Association of Realtors also calculated the qualifying salaries for 5 percent and 10 down payments.

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