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The Salary You Need To Make In Order To Buy A Home In Different American Cities, Visualized – TechDigg

Using data from Home Sweet Home, Visual Capitalist mapped out how much salary one would need to earn in order to comfortably purchase a home in America’s 50 biggest metros.

While the country’s median home price is hovering a…….

Using data from Home Sweet Home, Visual Capitalist mapped out how much salary one would need to earn in order to comfortably purchase a home in America’s 50 biggest metros.

While the country’s median home price is hovering around $370,000, on average a person would need to earn around $76,000 to even consider comfortably purchasing a home in the US.

Key Takeaways

  • Census data shows that the percentage of homes occupied by their owners in the US is around 65.

  • Median home prices have gone up by an estimated two percent over the last six months.

  • You’d need to be making at least $76,000 annually to purchase a house priced at $368,200 (the median home price in the US) at a four percent fixed mortgage rate.

  • California cities San Jose, San Francisco, San Diego, and Los Angeles are the costliest cities in America, and you’d need to earn more than $150,000 to purchase a home. In San Jose, where the country’s highest median home prices are, that number doubles.

Source: https://digg.com/money/link/how-much-salary-you-need-to-buy-a-home-in-different-american-cities-visualized-oBC2ZDxln2

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