HSH.com reveal the salary you'll need to earn to buy a home in 27 US cities

Home Top

The salary you need to earn to afford a house in America's major cities revealed: San Francisco homeowners need the deepest pockets while Cleveland is crowned the new most affordable
Outrage as black woman is 'forced to spend eight days in a psych ward because cops would not believe the BMW she was driving belonged to her'
Da Vinci Code clue to bizarre tapestry theft: Stolen panel tells tale of Rosslyn Chapel which Dan Brown links to Holy Grail
'He should never have a badge or gun again': Tennis star James Blake calls for NYPD officer filmed tackling him to the ground to be fired
EXCLUSIVE: Mother of hygienist at center of deadly love triangle says her daughter is 'not the jealous type' and has nothing to do with the death of her ex-boyfriend's glamorous new dentist girlfriend
Mom, 24, charged with felony neglect after her barefoot children aged 4 and 6 are found eating dirt and dry noodles in a CAVE under Kansas City
Staggering treasure trove of paintings discovered inside home of one of America's greatest modern artists who became a recluse 25 years ago after slamming Scorcese film based on his own life
Way too close for comfort: San Francisco landlord is renting out SIX BUNKS in one small room for $550 a month per person as property prices soar
London, New York, Tokyo and Shanghai among the cities housing one BILLION people that will be 'submerged underwater should we burn all the planet's fossil fuels'
Emmy-winning producer wanted by police for 'stabbing his roommate with a knife over Oscars joke' once starred in film playing a landlord who kills his tenant
Hervé Léger breathes new life into the bodycon dress with bold prints and fun fringing - as brand celebrates its 30th anniversary at New York Fashion Week
War of the close-ups! After stunning portrait of Helen Mirren at 70, how Brits beat the American stars by NOT choosing the knife
So where does YOUR school rank? Top 20 US colleges rated according to the attractiveness of their students
Body found on murder suspect's farm 'is American tourist who went missing in Spain'
EXCLUSIVE: Son of wealthy couple who vanished a month ago told a friend they were 'missing' a day BEFORE he claimed his uncle told them they could not be found
Good Samaritans lift car off man, 69, pinned underneath tire after a hit-and-run accident
Horrifying moment a man, 62, is left in a pool of his own blood and with a severed ear after 'woman ordered her two pit bulls to attack him after argument'
Soldier who disappeared during routine parachute training exercise found dead in woods 10 hours later
Sierra wildfire destroys homes, threatens 6,000 California residences
Anti-monarchy, anti-austerity and a defender of Putin, ISIS and Palestinian terrorists: The extraordinary socialist views of Britain's VERY radical new Labour Party leader
Hardline leftwinger Jeremy Corbyn elected leader of Britain's opposition Labour Party and celebrates with a rousing rendition of socialist anthem 'The Red Flag' in a pub
Presidential hopeful Donald Trump mocked online after being duped into reposting an image of UK Labour Party's new Socialist leader
The price of convenience: Horrific images lay bare the devastating murderous effects litter left on beaches has on sealife
'I am ecstatic now to learn that he has turned his life around': Police officer snaps photo one year later with man who tried to stab him

San Francisco home buyers must earn the most in the nation: $157,912.06 annually to afford monthly payments of $3,684.61
Portland, Sacramento, Miami, and Denver all moved into the top 10 most expensive list
New York City moved up a notch to third least affordable city to buy a home in
Cleveland is the most affordable city despite the salary needed to buy a home there climbing by over 22 percent

Published: 15:00 EST, 12 September 2015 | Updated: 18:43 EST, 12 September 2015

224

View
comments

Bad news for those hoping to move to San Francisco: The most expensive city in the country somehow got even more expensive.

The technology apex grew 12.47 percent more expensive for home buyers since the first quarter of the year, says mortgage resource website HSH.com.

Those hoping not to rent will have to earn $157,912.06 per year to afford the principal, interest, taxes and insurance payments on a median-priced home in the area.

Scroll down for video

Thanks to being a high tech hub, the San Francisco area remains the country's least affordable for home buyers

With its miles of sandy white beaches, San Diego remains the country's second least affordable city for home shoppers

Finance and fashion mecca New York City remains perennially expensive for home buyers, and salary requirements only went up

A person wanting to buy in the Golden Gate city would have to earn $16,496 more than last quarter for the same house. The median home price is $841,600.

The website assumed a 20 percent downpayment to make its calculations, thus avoiding adding in PMI insurance costs for those who pony up less.

The site based its stats on the National Association of Realtors’ 2015 second-quarter data for median-home prices and HSH.com’s 2015 second-quarter average interest rate for 30-year, fixed-rate mortgages.

The salaries required to afford to buy homes in 27 metro areas (above) was revealed by HSH

San Diego remained in second place, with home buyers having to earn $104,839.73 annually to afford a pad. That's the first time 'America's Finest City' has reached over $100,000. the median home price is $547,800.

The Big Apple takes a huge bite out of your salary, moving up one spot from fourth to third, with New Yorkers having to earn $90,750.14 per year to afford that probably way too small abode in the sky.

Los Angeles and Boston rounded out the top five, with home buyers having to earn $88,315.32 and $86,164.15 respectively to afford their median priced homes.

Bargain hunters might want to migrate to Cleveland, which beat out Pittsburgh this quarter for most affordable housing in the country, with owners having to earn $33,714.17 for that white picket fence dream. You can get a home there for a median of just $129,700.

Party town Miami has gotten even more expensive in the past quarter, breaking into the top ten least affordable cities

Rainy Portland, scene of the hit series Portlandia, has become more expensive as well moving up on the list into the top ten least affordable areas

Portland, Sacramento, Miami, and Denver rounded out the top ten most expensive places for home buyers for the first time.

Detroit, generally thought of as a buyer's dream with foreclosed mansions selling for one dollar and back taxes, got 13.22 percent more expensive this quarter. It also had one of the highest rates for 30-year fixed-rate mortgages at 4.05 percent, as much as the much more expensive Seattle.

If you want to live by the beach, Tampa is a steal with home buyers only having to earn $41,488.22 to afford a median-priced $175,000 place.

If you're looking for a home buyer's bargain, consider where LeBron James lives, which comes in as most affordable, but hurry because prices in Cleveland are rising

You'd have to earn $54,385.77 a year to handle a median priced home in Philadelphia

Political hotbed Washington DC salaries have to reach $83,027 to make a median priced home doable

Cincinnati, St. Louis, and Atlanta all remain relatively affordable.

Cleveland may be the cheapest city of the bunch, but possibly not for long: Salaries needed to buy there jumped 22.47 percent from last quarter.

Not one city became more affordable since last quarter.

The Steel City of Detroit is thought of as the most affordable city, but it's real estate prices are rising, and salary requirements have gone up over 13 percent since last quarter