Tag Archives: HSH

New analysis shows that buyers in Pittsburgh need just $31K to purchase a median-priced home in the area. Cleveland and Cincinnati also require low salaries, while San Francisco, San Diego, and Los Angeles buyers need the highest salaries in the nation. San Fran buyers need salaries of $161K in order to buy.

On a national scale, with 20 percent down, a buyer would need to earn a salary of $48,603.82 to afford the median-priced home. Of course it is possible to buy a home with less than a 20 percent down payment, but a lower down payment means the buyer’s salary must be higher to afford the same home. In the national example above, a purchase of a median-priced home with only 10 percent down and including the cost of PMI increases the income needed to $56,140.44, an increase of $7,500.