How affordable is our city’s housing market, when we view the topic from a salary-centric perspective?
With nationwide interest rates on the rise and home prices jumping aggressively in certain marketplaces, housing affordability has once again become a hot-button topic, and we thought we would take a different look at the issue.
Using some interesting analysis by HSH.com, we put together the following chart, which shows the salary that one needs to buy a home in the nation’s largest housing markets. Where did our metro area rank? Check out the graph to find out:
Not sure where they got these numbers but with a salary of $44k your not going to buy a home in an average Miami neighborhood. In my experience even $100k is already tight.