You need an annual salary of $51,115 to afford the national median home price of $222,700. But how much do you need to earn to afford a house in certain metro areas? HSH.com did a study to see how much salary you would need to earn in order to afford the principal, interest, taxes and insurance payments on a median-priced home in 27 metro areas. Here’s the salary needed to buy a home in certain markets:
- San Francisco: $147,996 salary needed to buy median home price of $781,600
- Los Angeles: $95,040 salary needed to buy median home price of $481,900
- New York City: $86,770 salary needed to buy median home price of $384,600
- Denver: $68,436 salary needed to buy median home price of $353,500
- Houston: $52,164 salary needed to buy median home price of $209,200
- Orlando: $47,811 salary needed to buy median home price of $205,000
(hsh.com)