Salary Needed To Buy A Home In 15 major cities

[mannyrs13]

Not too surprising. San Francisco had a picture of an apartment for 749k. I wouldn't even be able to pull a Bender and live in the closet for that price.

http://www.businessinsider.com/the-...-buy-a-home-in-15-major-us-cities-2015-5?op=1


Here's the salary you have to earn to buy a home in 15 major US cities ANTONIA FARZAN AND LIBBY KANE MAY 27, 2015, 9:43 AM 423,245 31 san franciscoFlickr / Davide Damico San Francisco remains the most unaffordable metro area. The mortgage website HSH.com has updated its estimate of how much annual income a household would need to buy a home in major cities in the US according to first-quarter 2015 data. Several cities — Portland, Sacramento, Miami, and Denver — appear on the list of highest-priced metro areas for the first time. The site looked at median home prices from the National Association of Realtors, along with interest rates for common 30-year, fixed-rate mortgages and property taxes, and insurance costs, to figure out how much money it would take to pay a median-priced home's mortgage principal, taxes, and insurance — and how much you would have to earn to afford it. Salaries listed are rounded to the nearest $500.

15. Philadelphia 15. Philadelphia Google Maps Houses in this Philadelphia neighborhood are listed for $220,000. Population: 1,517,628 Median Home Price: $204,900 Monthly Mortgage Payment: $1,138 Salary Needed To Buy: $49,000

14. Houston 14. Houston Google Maps Houses in this Houston neighborhood are listed for $199,000. Population: 2,076,189 Median Home Price: $200,300 Monthly Mortgage Payment: $1,158 Salary Needed To Buy: $50,000

13. Baltimore 13. Baltimore Google Maps Houses in this Baltimore neighborhood are listed for $235,000. Population: 640,064 Median Home Price: $233,100 Monthly Mortgage Payment: $1,172 Salary Needed To Buy: $50,500

12. Chicago 12. Chicago Google Maps Apartments in this Chicago neighborhood are listed for $200,000. Population: 2,824,584 Median Home Price: $191,500 Monthly Mortgage Payment: $1,247 Salary Needed To Buy: $53,500

11. Sacramento 11. Sacramento Google Maps Homes in this Sacramento neighborhood are listed for $275,000. Population: 479,686 Median Home Price: $275,800 Monthly Mortgage Payment: $1,364 Salary Needed To Buy: $58,500

10. Portland 10. Portland Google Maps Homes in this Portland neighborhood are listed for $280,000. Population: 609,456 Median Home Price: $289,400 Monthly Mortgage Payment: $1,386 Salary Needed To Buy: $59,500

9. Miami 9. Miami Google Maps Homes in this Miami neighborhood are listed for $270,000. Population: 417,650 Median Home Price: $269,100 Monthly Mortgage Payment: $1,396 Salary Needed To Buy: $60,000

8. Denver 8. Denver Google Maps Homes in this Denver neighborhood are listed for $340,000. Population: 649,495 Median Home Price: $338,100 Monthly Mortgage Payment: $1,506 Salary Needed To Buy: $65,000

7. Seattle 7. Seattle Century 21 A unit in this Seattle building is listed for $350,000. Population: 652,405 Median Home Price: $352,400 Monthly Mortgage Payment: $1,673 Salary Needed To Buy: $72,000

6. Washington, D.C. 6. Washington, D.C. Google Maps Apartments in this Washington, D.C., neighborhood are listed for $375,000. Population: 582,049 Median Home Price: $367,800 Monthly Mortgage Payment: $1,772 Salary Needed To Buy: $76,000

5. Boston 5. Boston Google Maps Apartments near this Boston neighborhood are listed for $390,000. Population: 645,966 Median Home Price: $374,600 Monthly Mortgage Payment: $1,800 Salary Needed To Buy: $77,000

4. Los Angeles 4. Los Angeles Google Maps Apartments in this Los Angeles neighborhood are listed for $450,000. Population: 3,794,640 Median Home Price: $434,700 Monthly Mortgage Payment: $1,985 Salary Needed To Buy: $85,000

3. New York City 3. New York City Google Maps Apartments in this New York City neighborhood are listed for $389,000. Population: 8,213,839 Median Home Price: $388,600 Monthly Mortgage Payment: $1,988 Salary Needed To Buy: $85,000

2. San Diego 2. San Diego Google Maps Apartments in this San Diego building are listed for $499,900. Population: 1,284,347 Median Home Price: $510,300 Monthly Mortgage Payment: $2,249 Salary Needed To Buy: $96,500

1. San Francisco 1. San Francisco Google Maps Apartments in this San Francisco building are listed for $749,000. Population: 777,660 Median Home Price: $748,300 Monthly Mortgage Payment: $3,299 Salary Needed To Buy: $141,500

 

[scarlxrd]

Now that's what's up

Wow, Miami's like that, huh? Now where I'm from.

Might have to move to Cali tho

Or Houston

 

[alpo]

miami is not like that but carry on

 

[jeh]

Whoa. Not going to lie. Had a thought that Los Angeles or New York would be number 1. Frisco that expensive? Wow.

 

[Buckeye Fever]

Whoa. Not going to lie. Had a thought that Los Angeles or New York would be number 1. Frisco that expensive? Wow.

Frisco is more expensive than LA. San Diego might be as well. Not sure though.

 

[EducatedBrothaFromTheBank]

Whoa. Not going to lie. Had a thought that Los Angeles or New York would be number 1. Frisco that expensive? Wow.

Well considering the Bay is the home of damn near every major company in America

 

[mannyrs13]

Whoa. Not going to lie. Had a thought that Los Angeles or New York would be number 1. Frisco that expensive? Wow.

It's gotten more expensive the past few years I believe. There's a huge tech bubble happening and I think it's led to the city being more expensive. Whole bay and silicon valley area experiencing growth. 49ers got a new stadium, warriors were looking to get one, I think the giants and athletics too. Wrestlemania was just there and super bowl next year. Bay area is the hot spot right now.

 

[mannyrs13]

miami is not like that but carry on

true, depends on the area. They got new townhouses near me going up for atleast 300k. Of course I'm in broward so I don't know what Dade prices looking like too much. All about the location tho on some places. New property getting more expensive and the whole area is growing a lot.

 

[alpo]

true, depends on the area. They got new townhouses near me going up for atleast 300k. Of course I'm in broward so I don't know what Dade prices looking like too much. All about the location tho on some places. New property getting more expensive and the whole area is growing a lot.

where in broward.. they would start off 300k but the price will drop to 200k -150. lol
i remember when them new townhouses with a two car garage was bult in west miramar they were going at 300k lol man a year went that price drop so low lol

 

[mannyrs13]

where in broward.

just up the road from you in the Miramar/pines/davie area. They got spots right there off red road just being built.

 

[alpo]

just up the road from you in the Miramar/pines/davie area. They got spots right there off red road just being built.

yeah thats where i live. live on 47 ave by the dump

 

[mannyrs13]

where in broward.. they would start off 300k but the price will drop to 200k -150. lol
i remember when them new townhouses with a two car garage was bult in west miramar they were going at 300k lol man a year went that price drop so low lol

you talking bout the ones by the 24 hour fitness or out west by like dykes? My friend lives by the gym and they building a few new spots in that area. Rent over there can easily go for 1500 for a 1 bedroom. We were walking around one night and saw a nice 3 bedroom 2.5 bathroom 3 story one. It was empty so we were able to check it out. Forgot what the development was called. I wanna say Modero. What I wanna buy in is this new building I heard of in brickell where the garage lifts up to your own penthouse. But I gotta be a billionaire first.

 

[alpo]

you talking bout the ones by the 24 hour fitness or out west by like dykes? My friend lives by the gym and they building a few new spots in that area. Rent over there can easily go for 1500 for a 1 bedroom. We were walking around one night and saw a nice 3 bedroom 2.5 bathroom 3 story one. It was empty so we were able to check it out. Forgot what the development was called. I wanna say Modero. What I wanna buy in is this new building I heard of in brickell where the garage lifts up to your own penthouse. But I gotta be a billionaire first.

naw, the one by mcdonalds and cvs. yeah i saw them apartments, that rent going to drop i promise you lol

 

[DrX]

this country is unlivable unless ur rich

 

[ThugLife]

you talking bout the ones by the 24 hour fitness or out west by like dykes? My friend lives by the gym and they building a few new spots in that area. Rent over there can easily go for 1500 for a 1 bedroom. We were walking around one night and saw a nice 3 bedroom 2.5 bathroom 3 story one. It was empty so we were able to check it out. Forgot what the development was called. I wanna say Modero. What I wanna buy in is this new building I heard of in brickell where the garage lifts up to your own penthouse. But I gotta be a billionaire first.

I'm finna beat yo ass for living near me