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Salary needed to buy a home in 15 large metros

California cities occupy four of the five top spots with the highest salary needed to afford home payments.

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As record-low inventory causes home prices to rise nationwide, higher salaries are required to afford monthly home payments. Using its mortgage calculator, SmartAsset crunched the numbers and found that residents in three big cities would need to make more than $110,000 to afford a home (including the mortgage, property taxes and homeowners insurance). That’s nearly double the median household income of $57,617 nationwide.

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March 2, 2018

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Salary needed to buy a home in 15 large metros

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