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Find Out How Much You Need to Earn to Afford a House in Your City

posted: 12/09/15
by: Mara Betsch
Couple holding house keys
iStock

When you're younger, buying a home seems like the an important and almost mandatory step towards adulthood. Unfortunately, as you get older, you may realize that your paycheck doesn't exactly contain enough money to actually afford your dream home, much less any home at all.

But it's good to have a dream, and thanks to some calculations from HSH.com (with a little help from data form the National Association of Realtors), they've determined exactly how much you should be making to afford a home. Using the median home price in 27 metro areas, they estimated that these salaries would afford a 30-year, fixed-rate mortgage with a 20 percent down payment (pretty standard for most home owners). See how your city stacks up:

1. San Francisco -
$153,152.08

2. San Diego - $106,695.94

3. Los Angeles - $99,527.51 (this sunny city had the biggest jump -- a 13.84 percent increase!)

4. Boston - $92,796.90

5. New York - $91,497.39

6. Washington - $81,873.73

7. Seattle - $79,283.37

8. Denver - $68,915.21

9. Portland - $66,507.55

10. Miami - $64,112.23

11. Sacramento - $62,162.20

12. Chicago - $61,372.12

13. Baltimore - $56,083.99

14. Philadelphia - $55,338.66

15. Houston - $53,695.27

16. Dallas - $52,598.53

17. Minneapolis - $51,386.23

18. San Antonio - $48,470.87

19. Orlando - $47,302.80

20. Phoenix - $43,836.81

21. Tampa - $42,010.79

22. Atlanta - $39,393.11

23. Detroit - $38,332.76

24. St. Louis - $37,603.97

25. Cincinnati - $36,483.38

26. Cleveland - $34,402.31

27. Pittsburgh - $33,729.07

So who's ready to move to Pittsburgh?