Buying a home is likely to be the biggest purchase you'll ever make, and tight inventory has created affordability issues in many markets across the country.
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.
Median Home Price
**Average jumbo mortgage rate used; 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 27 largest U.S. markets based on population. HSH used the average interest rate for a 30-year fixed-rate mortgage in the third quarter 2016, and assumed 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 third quarter of 2016 and from the National Association of Realtors.
For more information about the methodology click here.