How much you must earn to buy a home in 27 major U.S. metros

Discussion in 'Business & Economics' started by Plazma Inferno!, Jul 8, 2016.

  1. Plazma Inferno! Ding Ding Ding Ding Administrator

    According to pricing data collected by the National Association of Realtors, a single family home in the U.S. will cost you approximately $223,900 as of 2015 median estimates. The median sales price of existing single-family homes in the U.S. has increased steadily since 2013 ($197,400) and 2014 ($208,900). That equates to a 13% increase over two years! Below is a breakdown of the median home prices for 2015 across four U.S. geographical areas:

    Northeast: $262,500
    Midwest: $175,500
    South: $196,400
    West: $319,100

    This website created a 3D map that shows how much you must earn to buy a home in 27 major U.S. metros. The higher the cone rising out of the map, the greater the salary needed to buy a home. Additionally, the metro areas have been highlighted from green to red to represent the median home price. Darker green represents lower median home prices and darker red represents higher median home prices. Of the 27 metro areas, the range of salaries needed to own a home varies from $31,134 to $147,996, which is a difference of over $100,000!

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