How much do you need to make to buy an average house in top markets?
- Blog Post by: Jim Buchta
- February 18, 2014 - 10:01 AM
How much salary do you need to buy an average house in the Twin Cities and the other top 25 markets in the nation? HSH.com wanted to find out, so they put together a list that looks at the salary you'd have to earn to afford the principal and interest payment on a median priced home in the top 25 markets nationwide.
The Twin Cities, where a buyer would have to have a $33,800 income to buy a $197,000 house, was No. 12 on the list. The required salary in the Twin Cities fell more than $3,300 from the previous quarter because interest rates and home prices were down slightly.
Cincinatti was No. 1 at $19,435, and not surprisingly, uber-pricey San Francisco was last with a required income of $115,510. Check out the rankings for the other cities by clicking here.
© 2014 Star Tribune