Median Home Price and Salary Required In 27 Major Cities

real estateDoug Short:  Tim Manni, the Managing Editor at, features a periodic update entitled “The Salary You Must Earn to Buy a Home in 27 Metros”.

The opening tease is a question:

“How much salary do you need to earn in order to afford the principal and interest payments on a median-priced home in your metro area?”

The article is a must-read for anyone interested in US real estate trends and income demographics. Here is a slightly edited version of the Tim’s table of the key data.

We’ve rounded the dollar amounts to the nearest $100 to facilitate reading.

Note that the data is sorted by the salary needed to finance the median priced home with a standard 28 percent “front-end” debt ratio and a 20 percent down payment:

How do these metropolitan area real estate costs stack up against each other and the US median household income?

Here is a column chart to which we’ve added the latest Sentier Research data for the US median household income as of July 2015.

Home Prices and Salaries Needed to Buy

The table above includes a column for the percent change from the previous quarter (Q1 2015).

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