Here's the salary you have to earn to buy a home in 19 major US cities [View all]

[FLPanhandle]

http://www.businessinsider.com/salary-to-buy-a-home-2016-3

In the market for a home?

Mortgage website HSH.com has updated its estimate of how much annual income a household would need to buy a home in major metropolitan areas in the US, according to fourth-quarter 2015 data.

Thanks to lower mortgage rates and home prices, houses were more affordable in nearly every metro area measured than they had been in the previous quarter. The National Association of Realtors told HSH.com that it doesn't expect this trend to continue.

The site also calculated how it would change the salary needed to buy a home if a buyer were to put 10% down instead of the recommended 20%. No matter where you are, it's more expensive.

1. San Francisco

Population: 777,660

Median Home Price: $781,600

Monthly Mortgage Payment: $3,453

Salary Needed to Buy: $148,000



4. New York City

Population: 8,213,839

Median Home Price: $384,600

Monthly Mortgage Payment: $2,024

Salary Needed to Buy: $87,000


5. Boston

Population: 645,966

Median Home Price: $393,600

Monthly Mortgage Payment: $1,940

Salary Needed to Buy: $83,000




7. Seattle

Population: 652,405

Median Home Price: $385,300

Monthly Mortgage Payment: $1,829

Salary Needed to Buy: $78,500


10. Miami

Population: 417,650

Median Home Price: $286,000

Monthly Mortgage Payment: $1,471

Salary Needed to Buy: $63,000