Here's How Much Money You Must Earn To Buy A Home In 25 Big US Cities
The cost of living in America varies wildly.
In Cleveland, people need a base salary of at least $19,435 a year to afford the average home, while San Franciscans must make upwards of $115,000 annually.
HSH.com, an online mortgage and consumer loan information website, figured out how much a person would have to earn to afford a home in 25 of the country's largest metropolitan areas.
To do so, HSH looked at the National Association of Realtors' fourth-quarter data for median home prices and HSH.com's fourth-quarter average interest rate for 30-year, fixed-rate mortgages to determine how much money homebuyers would need to earn in order to afford only the principal and interest payment on a median-priced home in their market. (They did not account for property taxes, insurance, and other expenses - read their methodology here.)
- OPINION: Balancing act or pure jugglery — navigating professional challenges as a working mother
- OPINION: Ecofeminism — a diversified perspective on Mother’s Day
- Inflation data, Q4 earnings, global trends to drive stock markets this week: Analysts
- Technical Analysis for Stocks
- Discovering Kasargod: Kerala's hidden paradise
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market