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27 Most and Least Affordable Cities to Buy a Home

HSH.com
 

HSH.com, a national publisher of mortgage and consumer loan information, recently released a list of yearly earnings required to afford the principal, interest, taxes, and insurance for a median priced home in 27 of the largest U.S. metropolitan areas.

The top 3 least affordable cities were all in California: San Francisco, San Diego, and Los Angeles. You would need to earn $161,948 annually to afford the $885,600 median priced home in San Francisco.

Boston and New York City rounded out the top 5 and represented the only Northeastern cities on the list. You would need to earn $87,557 to afford the $435,800 median priced home in Boston and $86,215 to afford a $395,400 home in New York.

The top 3 most affordable metro areas to purchase a home were all in the Midwest: Pittsburgh, Cleveland, and Cincinnati.  You need to earn less than $40,000 to purchase the typical home in these metro areas.
 
The annual salary required nationally is slightly over $50,000 to purchase a $240,700 home.

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