The mortgage website HSH.com has updated its estimate of how much annual income a household would need to buy a home in major cities in the US according to third-quarter data.
The site looked at median home prices from the National Association of Realtors, along with interest rates for common 30-year, fixed-rate mortgages and property taxes and insurance costs, to figure out how much money it would take to pay a median-priced home's mortgage principal, taxes, and insurance — and how much you would have to earn to afford it.