See below exactly how much salary you would need to earn in order to afford the principal, interest, taxes and insurance payments on a median-priced home in the 50 most populous metropolitan areas.
Key takeaways: Amid tight markets with little new supply, housing affordability continues to be a spreading problem. This remains the case even though the median price of homes sold in the third quarter of 2017 compared against the second quarter was actually lower in 29 of the 50 markets we reviewed. Lower quarter-to-quarter costs were most pronounced in the Virginia Beach (-6.63 percent), Nashville (-5.71 percent) and San Francisco metropolitan areas (-5.26 percent), reflecting increased sales of lower cost homes in those markets... ENTIRE ARTICLE AT: https://www.hsh.com/finance/mortgage/salary-home-buying-25-cities.html#new-york-city