Minimum Salaries Needed to Buy in 27 Cities

An increase in interest rates means home shoppers likely will need a higher salary in order to afford a median-priced home in 27 of the largest metro areas, according to mortgage data provider HSH.com’s fourth-quarter 2016 salary-homeownership analysis.

Couple that with higher home prices, which are rising year over year, and it takes more to afford the principal, interest, taxes, and insurance payments on a median-priced home. Take a look at the chart below to see how much your clients will need to earn in order to afford a median-priced home in your metro area. (HSH.com uses data from the National Association of REALTORS®, the Mortgage Bankers Association, and Freddie Mac for its calculations.)

Source: “The Salary You Must Earn to Buy a Home in 27 Metros,” HSH.com (Feb. 13, 2017)

Source: NAR – Real Estate News
Minimum Salaries Needed to Buy in 27 Cities

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EXCELLENT

20 reviews on

Tom Sikes

2023-05-30

Todd is an excellent agent. He made every effort to meet our unique situation (settling an estate while living out of the state) He kept us up to date at every step of the process. I highly recommend Todd.

Jason Trent

2023-04-19

I really like this site!

Liz Kruse

2021-10-14

Marisa was great. She sent me emails as soon as new properties came on the market, and was always eager to meet me for tours. She took all the stress out of scheduling and paperwork, and was always available to talk to me when I was feeling anxious about my purchase. We wrote 6 offers, because of the crazy market, but she stayed optimistic and wasn’t deterred by rejections, or sales being canceled due to inspections. I felt like she truly had my best interest heart every step of the way.

Abigail Fine

2021-08-28

I would highly recommend Tawnya. She helped me navigate the worst market Eugene has ever seen for buyers—and I'm a first-time buyer, no less, which made the process even more strenuous. Tawnya was warm, attentive, and energetic throughout the whole process. What I appreciate most is that her legal training makes her extremely knowledgeable, and she is a down-to-earth person who shares her expertise without coming across as pushy. If the property has visible problems, she will never hesitate to say "don't pursue this place, there are red flags here"—she is extremely honest and transparent. She wants to help the buyer find the best place for their needs, however complicated that process might be, and she is very patient.

Martha Dyer

2021-07-17

Marissa Fox helped us get into the house of our dreams by listening to us and supporting us through the process. She is a fun and lovely person to go through the process with and never made me feel bad for asking questions. It's a crazy time to buy a house, and she made it seem easy.

Hannah Porton

2021-06-04

Tawnya Madsen, of Eugene's Alternative Realtors, is hands-down the best realtor imaginable. She surpassed all of our expectations. She is more than competent (has a law degree along with all her other expertise), prompt, professional, comfortable to work with, and most of all, we had complete faith that she was making the right calls every step of the way!

Jason Vartanian

2021-05-19

My wife and I have worked with Tawnya through three separate transactions (two purchases and one sale), and we would highly recommend her to anyone. Tawnya is knowledgeable, attentive to detail, patient, responsive, and friendly. We always looked forward to our meetings with her, and we are absolutely thrilled with the new house she helped us purchase. And we couldn't have asked for a smoother or more stress-free transaction when she helped us sell our starter home. Thank you, Tawnya!

Samantha Sanders

2021-05-12

The absolute best realtors I’ve ever worked with. Tawnya is an absolute joy and amazing to work with. I cannot recommend them enough.

Chris Gibson

2021-05-05

Minimum Salaries Needed to Buy in 27 Cities

Minimum Salaries Needed to Buy in 27 Cities

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