The salary you need to afford the average home in your state (Based on a 30-year mortgage with a 10% down payment).
Top 5 Places Where You Need the Lowest Salaries to Afford the Average Home
1. West Virginia: $38,320 for a house worth $149,500
2. Ohio: $38,400 for a house worth $149,900
3. Michigan: $40,800 for a house worth $160,000
4. Arkansas: $41,040 for a house worth $161,000
5. Missouri: $42,200 for a house worth $165,900
Top 5 Places Where You Need the Highest Salaries to Afford the Average Home
1. Hawaii: $153,520 for a house worth $610,000
2. Washington, DC: $138,440 for a house worth $549,000
3. California: $120,120 for a house worth $499,900
4. Massachusetts: $101,320 for a house worth $419,900
5. Colorado: $100,200 for a house worth $415,000
The salary you need to afford the median-priced home in major US metros
Gap Between Median Household Income and Income Needed To Afford Median-Priced Home In Each State
Years of Income Needed to Pay off a House
The maps above are based on median house price and the median income per U.S. county. In some U.S. counties, the median house price is nearly twenty times as much as a person’s annual income, while in some U.S. counties, it’s far less. Workers in a county with a median income per capita of $50,000 would have to pay 2 years worth of salary to pay off a median house cost of $100,000.
The least number of years was King County, Texas at 1.3 years (median income: $29 918, median housing price: $38 800). The most number of years was Kings County (Brooklyn), New York at 20.8 years (median income: $29 928, median housing price: $623 900).