Housing News

How Much Do You Need to Earn to Buy a Home in the 30 Largest Housing Markets?

How much do you really need to earn to buy a home? The answer depends on where you want to live.

The pricier the market, the more household income you need to earn to afford a typical home. Across the country’s 30 largest housing markets, that gap can be staggering.

Nationally, it would take a household income of $115,779 to afford the typical home priced at $414,667.

This assumes buyers put 20% down on a median-priced home with a 6.5% mortgage interest rate. (Prices are from Zillow as of July 31, 2026.) The calculation also includes a 1.25% property tax rate and a 0.5% homeowners insurance rate.

Keep in mind that even small changes in mortgage interest rates can impact how much home a buyer may be able to afford. So, the earnings needed to afford a home in these markets will shift as rates move.

That’s why it’s important to speak with a loan officer to understand your budget. You may be eligible for down payment assistance programs or low or no down payment loans or be able to buy down your mortgage rate. This could impact how much you need to earn to buy a home.

Income needed to buy a home in the 30 largest markets

1. New York City 
Median home list price: $749,330
Household income required to purchase a home: $209,220

2. Los Angeles
Median home list price: $999,666
Household income required to purchase a home: $279,116

3. Chicago
Median home list price: $376,333
Household income required to purchase a home: $105,076

4. Dallas
Median home list price: $428,333
Household income required to purchase a home: $119,594

5. Houston
Median home list price: $352,300
Household income required to purchase a home: $98,365

6. Washington, DC
Median home list price: $564,967
Household income required to purchase a home: $157,744

7. Philadelphia
Median home list price: $376,000
Household income required to purchase a home: $104,983

8. Miami
Median home list price: $471,333
Household income required to purchase a home: $131,600

9. Atlanta
Median home list price: $409,633
Household income required to purchase a home: $114,373

10. Boston
Median home list price: $784,333
Household income required to purchase a home: $218,993

11. Phoenix
Median home list price: $484,333
Household income required to purchase a home: $135,230

12. San Francisco
Median home list price: $971,963
Household income required to purchase a home: $271,381

13. Riverside, Calif.
Median home list price: $590,967
Household income required to purchase a home: $165,003

14. Detroit
Median home list price: $264,667
Household income required to purchase a home: $73,897

15. Seattle
Median home list price: $748,333
Household income required to purchase a home: $208,941

16. Minneapolis
Median home list price: $397,967
Household income required to purchase a home: $111,116

17. San Diego
Median home list price: $909,666
Household income required to purchase a home: $253,987

18. Tampa, Fla.
Median home list price: $389,967
Household income required to purchase a home: $108,882

19. Denver
Median home list price: $576,633
Household income required to purchase a home: $161,001

20. Baltimore
Median home list price: $383,000
Household income required to purchase a home: $106,937

21. St. Louis
Median home list price: $259,800
Household income required to purchase a home: $72,539

22. Orlando, Fla.
Median home list price: $411,417
Household income required to purchase a home: $114,871

23. Charlotte, N.C.
Median home list price: $436,200
Household income required to purchase a home: $121,791

24. San Antonio
Median home list price: $335,833
Household income required to purchase a home: $93,768

25. Portland, Ore.
Median home list price: $574,967
Household income required to purchase a home: $160,536

26. Sacramento, Calif.
Median home list price: $616,833
Household income required to purchase a home: $172,225

27. Pittsburgh
Median home list price: $254,667
Household income required to purchase a home: $71,105

28. Cincinnati
Median home list price: $319,900
Household income required to purchase a home: $89,319

29. Austin, Texas
Median home list price: $479,667
Household income required to purchase a home: $133,927

30. Las Vegas
Median home list price: $459,637 
Household income required to purchase a home: $128,335