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The salary you must earn to buy a home in the 50 largest metros Updated on:

National data and all 50 metros, sorted alphabetically

How much salary do you need to earn in order to afford the principal, interest, taxes and insurance payments on a median-priced home in your metro area?

Metro Area30-Year Fixed Mortgage Rate% Change from 3Q18Median Home Price% Change from 3Q18Monthly Payment (PITI)Salary Needed
National4.49%-0.41%$254,800-1.24%$1,371.81$58,791.86
Atlanta4.49%-0.41%$217,800+0.79%$1,127.23$48,309.87
Austin4.49%-0.41%$303,400-2.26%$1,769.88$75,852.22
Baltimore4.49%-0.41%$275,300-1.75%$1,475.33$63,228.43
Birmingham4.49%-0.41%$203,600+0.64%$1,005.90$43,110.21
Boston4.49%-0.41%$461,200+0.20%$2,404.69$103,058.20
Buffalo4.49%-0.41%$146,700-4.86%$1,005.53$43,094.24
Charlotte4.49%-0.41%$237,200+0.76%$1,187.19$50,879.67
Chicago4.49%-0.41%$245,400+0.86%$1,500.98$64,327.51
Cincinnati4.49%-0.41%$169,500+0.06%$980.38$42,016.50
Cleveland4.49%-0.41%$149,600-0.33%$911.94$39,083.15
Columbus4.49%-0.41%$193,500-3.25%$1,098.85$47,093.41
Dallas4.49%-0.41%$254,300-0.24%$1,484.59$63,625.39
Denver4.49%-0.41%$446,600+1.89%$2,086.25$89,410.57
Detroit4.49%-0.41%$183,483-1.52%$1,043.87$44,737.43
Hartford4.49%-0.41%$213,600-5.86%$1,424.06$61,031.10
Houston4.49%-0.41%$235,900-0.84%$1,400.93$60,039.81
Indianapolis4.49%-0.41%$185,300+0.05%$950.65$40,741.99
Jacksonville4.49%-0.41%$245,000-0.77%$1,290.19$55,293.82
Kansas City4.49%-0.41%$205,400+0.69%$1,120.86$48,036.83
Las Vegas4.49%-0.41%$298,900+1.29%$1,396.67$59,857.10
Los Angeles4.49%-0.49%$548,600-4.77%$2,626.30$112,555.74
Louisville4.49%-0.41%$176,200-2.17%$936.26$40,125.23
Memphis4.49%-0.41%$170,500-2.01%$917.56$39,323.94
Miami4.49%-0.41%$350,000+0.00%$1,790.97$76,755.97
Milwaukee4.49%-0.41%$239,600-1.72%$1,359.83$58,278.26
Minneapolis4.49%-0.41%$275,500+1.59%$1,460.43$62,589.66
Nashville4.49%-0.41%$259,300-0.38%$1,269.75$54,417.97
New Orleans4.49%-0.41%$204,500-1.02%$1,094.47$46,905.66
New York City4.49%-0.41%$396,600-1.81%$2,356.81$101,006.15
Oklahoma City4.49%-0.41%$149,200-7.33%$884.99$37,928.03
Orlando4.49%-0.41%$267,000+0.75%$1,389.84$59,564.77
Philadelphia4.49%-0.41%$224,900+0.13%$1,331.14$57,048.98
Phoenix4.49%-0.41%$276,400+1.36%$1,304.65$55,913.68
Pittsburgh4.49%-0.41%$137,800-2.70%$835.33$35,799.94
Portland4.49%-0.41%$390,600+0.41%$1,917.18$82,165.04
Providence4.49%-0.41%$284,200-3.40%$1,638.25$70,210.69
Raleigh4.49%-0.41%$277,700+0.29%$1,378.75$59,089.25
Richmond4.49%-0.41%$266,700+3.98%$1,310.55$56,166.28
Riverside/San Bernardino4.49%-0.41%$365,000+1.39%$1,781.70$76,358.72
Sacramento4.49%-0.41%$360,000-0.83%$1,807.02$77,443.81
Salt Lake City4.49%-0.41%$331,400-0.21%$1,548.75$66,374.98
San Antonio4.49%-0.41%$226,500-1.13%$1,328.34$56,928.99
San Diego4.53%-0.45%$620,000-0.96%$2,911.34$124,771.80
San Francisco4.53%-0.45%$930,000-2.35%$4,345.85$186,250.55
San Jose4.53%-0.45%$1,220,000-2.40%$5,552.83$237,978.37
Seattle4.49%-0.41%$497,000+1.51%$2,392.05$102,516.54
St Louis4.49%-0.41%$170,900-1.84%$984.43$42,189.78
Tampa4.49%-0.41%$234,900-0.04%$1,239.05$53,102.01
Virginia Beach4.49%-0.41%$217,000-3.13%$1,139.57$48,838.91
Washington, D.C.4.49%-0.41%$420,000+0.62%$2,131.13$91,334.30
Leave a Comment

 
Connor lee May 23, 2019 2:34 pm    

Great website

Rick Smith April 25, 2019 5:25 pm    

Did you forget Honolulu is part of the US?

Editorial Team July 19, 2019 6:55 pm

No, but we did remember that current (2018) population estimate for the Urban Honolulu, HI Metropolitan Statistical Area from the Census Bureau sees the area ranked #56 in terms of population. As such, it missed our "top 50" cut off, even though it is historically a very expensive area for housing.

Gail R April 11, 2019 1:38 am    

Why is Chicago so cheap, is everyone leaving?

Bubba September 15, 2018 8:31 pm    

Honolulu Hawaii is shockingly not included in your list. Please add it

jim March 06, 2019 1:45 am

I wouldn't go off what the realtor says, you know there is no jobs that pay those salary's around the area...so get ready for a market crash and I mean all over.

EphYoo December 02, 2017 3:40 pm    

NYC @ $419k median home price is an absolutely joke. The median price is double that number, so salary "guesstimate" on this article is half of what would be needed, so you can double that $99k annual salary to $180,000. These numbers are far from accurate. Pass on any data contained here.

Editorial Team December 06, 2017 8:35 pm

If you take the time to check the "metro definitions page" you'll find that the OMB definition of the metro area is quite expansive and well beyond Manhattan and the five boroughs. The area includes the counties of Bronx, Kings, New York, Queens, Richmond, Nassau, Suffolk, Putnam, Rockland, Westchester (NY); Essex, Hunterdon, Morris, Somerset, Sussex, Union, Bergen, Hudson, Middlesex, Monmouth, Ocean, Passaic (NJ); Dutchess, Orange (NY), Pike (PA), and we stand by our calculation (for details, check the "About" slide).

Jackie November 27, 2017 6:55 pm    

Just wondering what you consider a "home". The claim that the median price of a "home" in Miami is $340,000 makes me think that even studio apartments are counted in this equation. I don't think you can find a home for $340,000 in Miami unless you are including studio apartments. The houses in my Miami neighborhood start at $630,000, while most cost at least $700,000. Studio apartments usually start at $130,000 but can go for much more.

Editorial Team December 06, 2017 9:04 pm

Please know that we don't define a home at all; we use the National Association of Realtors median price for an existing single-family home. Also, as the area included in the calculation covers the entire metropolitan area (Miami-Dade, Broward and Palm Beach Counties) is it certainly likely that homes in the city proper or in your specific neighborhood will be higher, but that's not necessarily the case when you get further away from the center city.

Tom Boston November 27, 2017 4:39 pm    

Your definition of Boston extends to places 50 miles away. It's a small concentrated city. Difference between the center and even 20 miles out is sometimes 3 fold.

Editorial Team December 06, 2017 9:06 pm

We don't define the metro areas used in our analysis; rather, we use the definitions as provided by the Office of Management and Budget.

Jay November 26, 2017 3:55 pm    

So, Honolulu is the 46th most populous city in the United States, with a metropolitan area boasting a population of 955,000, and is the most expensive to purchase a home (median prices starting at over $650,000). Shouldn't they have been included in this article?

Editorial Team December 06, 2017 8:50 pm

The current (July 2016) population estimate for the Urban Honolulu, HI Metropolitan Statistical Area from the Census Bureau sees the area ranked #54 in terms of population. Even though it is historically an expensive housing area, it misses the cut.

fran November 25, 2017 3:31 pm    

It's fine to say the median price of a home in NEW YORK CITY IS approximately $400,000, but in Manhattan the median price is well over a million and a $100,00 salary really won't cut it unless you bought property decades ago. One East Village building that sold for 2.5 million in the 1980s now has individual apartments for that price. This survey really doesn't tell it like it is.

Editorial Team December 06, 2017 8:52 pm

The calculation includes the entire New York City metropolitan area, not just Manhattan or the five boroughs. Please check the "metro definitions" page for details.

Syd November 22, 2017 8:22 pm    

Did you use median homes defined as single family or including condo and coop?

Editorial Team December 06, 2017 8:56 pm

The data from the National Association of Realtors that we use in our calculation covers existing single-family homes only.