Real Estate Special Report

Can you afford to buy a home in these 50 cities?

By Kathryn Vasel and Tal Yellin

Thinking about buying a home? Good luck. Low housing supply is pushing home prices up across the country and mortgage rates are also starting to rise.

To avoid ending up house poor, here's how much you need to earn to afford a home in the most populous cities in the U.S., according to HSH.com.

  • Rank▼

  • City▼

  • Salary Needed▼

  • Median Home Price ▼

  • Monthly payment▼

  • 51
    San Jose*
    $235,646
    $1,270,000
    $5,498
  • 50
    San Francisco*
    $176,121
    $920,000
    $4,110
  • 49
    San Diego*
    $117,592
    $610,000
    $2,744
  • 48
    Los Angeles
    $107,358
    $553,300
    $2,505
  • 47
    New York City
    $95,663
    $395,900
    $2,232
  • 46
    Boston
    $95,264
    $448,500
    $2,223
  • 45
    Seattle
    $92,677
    $471,700
    $2,162
  • 44
    Washington, D.C.
    $82,950
    $397,100
    $1,935
  • 43
    Denver
    $79,181
    $414,400
    $1,848
  • 42
    Portland
    $75,710
    $380,400
    $1,767
  • 41
    Sacramento
    $71,606
    $349,900
    $1,671
  • 40
    Miami
    $71,245
    $335,000
    $1,662
  • 39
    Riverside/San Bernardino
    $68,036
    $340,000
    $1,588
  • 38
    Austin
    $67,148
    $293,200
    $1,567
  • 37
    Providence
    $65,760
    $278,700
    $1,534
  • 36
    Salt Lake City
    $60,268
    $315,100
    $1,406
  • 35
    Chicago
    $59,838
    $236,800
    $1,396
  • 34
    Hartford
    $59,347
    $223,800
    $1,385
  • 33
    Dallas
    $59,237
    $246,100
    $1,382
  • 32
    Baltimore
    $57,173
    $257,400
    $1,334
  • 31
    Houston
    $56,110
    $229,800
    $1,309
  • 30
    Minneapolis
    $55,198
    $250,200
    $1,288
  • 29
    Milwaukee
    $55,048
    $234,300
    $1,284
  • 28
    Orlando
    $54,690
    $250,000
    $1,276
  • 27
    National
    $54,571
    $247,800
    $1,273
  • 26
    Philadelphia
    $54,029
    $224,600
    $1,261
  • 25
    Raleigh
    $53,778
    $264,000
    $1,255
  • 24
    San Antonio
    $52,773
    $217,800
    $1,231
  • 23
    Las Vegas
    $51,792
    $266,800
    $1,208
  • 22
    Jacksonville
    $50,958
    $230,500
    $1,189
  • 21
    Nashville
    $50,287
    $250,500
    $1,173
  • 20
    Richmond
    $50,028
    $245,000
    $1,167
  • 19
    Tampa
    $49,323
    $223,000
    $1,151
  • 18
    Phoenix
    $49,233
    $252,600
    $1,149
  • 17
    Virginia Beach
    $47,118
    $220,000
    $1,099
  • 16
    Charlotte
    $46,055
    $223,500
    $1,075
  • 15
    Columbus
    $44,177
    $190,300
    $1,031
  • 14
    Kansas City
    $43,757
    $193,800
    $1,021
  • 13
    New Orleans
    $43,585
    $200,000
    $1,017
  • 12
    Atlanta
    $42,661
    $198,900
    $995
  • 11
    Detroit
    $42,040
    $180,400
    $981
  • 10
    Buffalo
    $40,879
    $146,200
    $954
  • 9
    Birmingham
    $39,726
    $195,500
    $927
  • 8
    St Louis
    $39,348
    $166,700
    $918
  • 7
    Cincinnati
    $38,149
    $158,900
    $890
  • 6
    Louisville
    $37,519
    $172,300
    $875
  • 5
    Memphis
    $37,233
    $168,300
    $869
  • 4
    Indianapolis
    $36,594
    $172,400
    $854
  • 3
    Oklahoma City
    $36,461
    $152,900
    $851
  • 2
    Cleveland
    $35,656
    $140,400
    $832
  • 1
    Pittsburgh
    $33,510
    $135,000
    $782
Source: HSH.com; Updated March 05, 2018.
By Kathryn Vasel and Tal Yellin

Notes/Methodology

HSH.com determined the yearly before-tax salary a buyer would need to afford the total cost, which includes principal, interest, taxes and insurance payments, of a median-priced home in the 50 largest U.S. markets based on population. HSH assumed a 4.05% interest rate for 30-year fixed-rate mortgages and a 4.20% rate for jumbo mortgages (designated by asterisks). The calculations assume buyers would make a 20% down payment, have good to excellent credit, and spend no more than 28% of their gross income for housing. Median home prices are for the fourth quarter of 2017 and from the National Association of Realtors.

For more information about the methodology click here.

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