Some cities require you to make a high salary to afford a home, but others require an annual salary of a little over $30,000 a year. Take a look at the top 10 cities that don’t require a high salary and the top 10 that do. HSH.com pulled together these interesting statistics.
10 Cities You Don’t Need a High Salary to Afford10. San Antoniominimum salary to afford a home: $45, 374.30median home price: $185,500average interest rate for a 30-year mortgage: 4.09%9. Orlandominimum salary to afford a home: $42,143.30median home price: $180,000average interest rate for a 30-year mortgage: 4.07%8. Phoenixminimum salary to afford a home: $40,658.08median home price: $200,300average interest rate for a 30-year mortgage: 4.06%7. Tampaminimum salary to afford a home: $37,732.30median home price: $160,000average interest rate for a 30-year mortgage: 4.13%6. Atlantaminimum salary to afford a home: $35,800.11median home price: $157,700average interest rate for a 30-year mortgage: 4.09%5. Detroitminimum salary to afford a home: $35,521.47median home price: $135,800average interest rate for a 30-year mortgage: 4.18%4. Cincinnatiminimum salary to afford a home: $33,485.23median home price: $138,100average interest rate for a 30-year mortgage: 4.09%3. St. Louisminimum salary to afford a home: $33,323.09median home price: $138,400average interest rate for a 30-year mortgage: 4.03%2. Clevelandminimum salary to afford a home: $32,010.41median home price: $121,200average interest rate for a 30-year mortgage: 4.05%1. Pittsburghminimum salary to afford a home: $31,716.32median home price: $135,000average interest rate for a 30-year mortgage: 3.98% | 10 Cities You Need a High Salary to Afford10. Miamiminimum salary to afford a home: $58,431.48median home price: $265,000average interest rate for a 30-year mortgage: 4.09%9. Portlandminimum salary to afford a home: $60,603.50median home price: $288,000average interest rate for a 30-year mortgage: 4.11%8. Denverminimum salary to afford a home: $61,642.15median home price: $314,800average interest rate for a 30-year mortgage: 4.08%7. Seattleminimum salary to afford a home: $72,844.31median home price: $352,000average interest rate for a 30-year mortgage: 4.15%6. Washington, D.C.minimum salary to afford a home: $77394.83median home price: $372,800average interest rate for a 30-year mortgage: 3.98%5. Bostonminimum salary to afford a home: $80,049.93median home price: $383,200average interest rate for a 30-year mortgage: 4.05%4. New York Cityminimum salary to afford a home: $87,535.60median home price: $390,000average interest rate for a 30-year mortgage: 4.22%3. Los Angelesminimum salary to afford a home: $89,664.86median home price: $450,900average interest rate for a 30-year mortgage: 4.07%2. San Diegominimum salary to afford a home: $95,432.68median home price: $493,100average interest rate for a 30-year mortgage: 4.07%1. San Franciscominimum salary to afford a home: $142,448.33median home price: $742,900average interest rate for a 30-year mortgage
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