Across the country, the salary needed to live in the largest metro areas has fluctuated in 2016, according to a new report from HSH.com.
In the metro Miami area, the median salary required to live is $62,370.25, a $512.75 decrease from last quarter. Although the salary needed dropped, the median price of homes increased by 0.6 percent, pushing it closer to the $300,000 mark.
Miami resides comfortably in the middle when compared to other major cities, as our chart below shows:
| Metro Area | Local Mortgage Rates | Median Home Price | Local Monthly Payment | Local Salary Needed to Buy |
|---|---|---|---|---|
| Atlanta | 3.88% | $167,800 | $859.25 | $36,824.97 |
| Boston | 3.81% | $378,500 | $1,856.81 | $79,577.57 |
| Chicago | 3.89% | $208,600 | $1,333.93 | $57,168.35 |
| Dallas | 3.90% | $210,100 | $1,209.28 | $51,826.29 |
| Houston | 3.90% | $208,000 | $1,199.15 | $51,392.04 |
| Los Angeles | 3.90% | $458,900 | $2,104.21 | $90,180.58 |
| Miami | 3.93% | $286,700 | $1,455.31 | $62,370.25 |
| New York | 3.87% | $381,000 | $1,988.14 | $85,205.89 |
| San Francisco | 3.81% | $770,300 | $3,364.57 | $144,196.08 |
| Seattle | 4.02% | $383,100 | $1,809.01 | $77,529.01 |