Here's How Much Income You Need In Major US Cities To Buy A House And Live Comfortably
Want to buy a house in San Francisco and actually be able to afford it? You'll need to make $180,600 a year according to a recent analysis by finder.com. With your average San Francisco home costing roughly $1,200,000, that income doesn't come as much of a surprise.
But what about other US cities? San Jose and Los Angeles place second and third on the list, respectively, with $129,864 and $90,244 being the required salaries to buy a home and live comfortably. That's all fine and good -- California is a dope place to live after all -- but one city on the list doesn't make a whole lot of sense to me.
Can you guess which one it is?
The average price of a home in NYC is only $605,00. Really?! According to The New York Times, the average price of a home in Manhattan alone is closer to $2 million. It could be due to averaging the home prices in all of New York City that makes this number feel so low, but with a higher cost of living than just about any other city, buying a home in New York for less than $1 million seems a little optimistic. But that's just me.
If you really want to live the life, this list suggests we should all move to Jackson, Mississippi, where home prices average at $62,800. Now that doesn't sound so bad at all.
Find the full list of what you'll be spending in 78 US cities here.