The National Association of Realtors published its 2013 fourth-quarter data for median home prices. HSH.com took this data and combined it with its fourth-quarter average interest rate for a 30-year, fixed-rate mortgage and compiled a list of what individuals would need to earn in 25 cities to acquire a home.
“All in all, the fourth quarter was a great time to buy as lower prices and mortgage rates increased affordability, allowing buyers to make less money and still afford a median-priced home in their market,” the website stated in its report.
Here is the list:
1. Cleveland: $19,435.17
2. Cincinnati: $22,226.95
3. St. Louis: $22,397.54
4. Atlanta: $24,390.94
5. Tampa: $24,650.88
6. Orlando: $28,298.47
7. San Antonio: $29,305.47
8. Dallas: $29,751.24
9. Houston: $31,298.99
10. Chicago: $32,388.90
11. Phoenix: $32,811.94
12. Minneapolis: $33,800.09
13. Philadelphia: $36,836.47
14. Baltimore: $41,155.40
15. Sacramento: $42,832.20
16. Miami: $43,918.66
17. Portland, Ore.: $45,872.78
18. Denver: $48,122.72
19. Seattle: $59,129.86
20. Washington, D.C.: $62,809.63
21. Boston: $63,673.13
22. New York City: $66,167.27
23. Los Angeles: $72,126.90
24. San Diego: $81,570.40
25. San Francisco: $115,510.06
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