United States
Mapped: The Salary Needed to Buy a Home in 50 U.S. Metro Areas
Check out the latest 2023 update of the salary needed to buy a home in the U.S.
The Salary Needed to Buy a Home in 50 U.S. Metro Areas
Check out the latest 2023 update of the salary needed to buy a home in the U.S.
Over the last year, home prices have risen in 49 of the biggest 50 metro areas in the United States.
At the same time, mortgage rates have hit seven-year highs, making things more expensive for any prospective home buyer.
With this context in mind, today’s map comes from HowMuch.net, and it shows the salary needed to buy a home in the 50 largest U.S. metro areas.
The Least and Most Expensive Metro Areas
As a reference point, the median home in the United States costs about $257,600, according to the National Association of Realtors.
Median Home Price | Montly Payment (PITI) | Salary Needed | |
---|---|---|---|
National | $257,600 | $1,433.91 | $61,453.51 |
With a 20% down payment and a 4.90% mortgage rate, and taking into account what’s needed to pay principal, interest, taxes, and insurance (PITI) on the home, it would mean a prospective buyer would need to have $61,453.51 in salary to afford such a purchase.
However, based on your frame of reference, this national estimate may seem extremely low or quite high. That’s because the salary required to buy in different major cities in the U.S. can fall anywhere between $37,659 to $254,835.
The 10 Cheapest Metro Areas
Here are the cheapest metro areas in the U.S., based on data and calculations from HSH.com:
Rank | Metro Area | Median Home Price | Monthly Payment (PITI) | Salary Needed |
---|---|---|---|---|
#1 | Pittsburgh | $141,625 | $878.73 | $37,659.86 |
#2 | Cleveland | $150,100 | $943.55 | $40,437.72 |
#3 | Oklahoma City | $161,000 | $964.49 | $41,335.41 |
#4 | Memphis | $174,000 | $966.02 | $41,400.93 |
#5 | Indianapolis | $185,200 | $986.74 | $42,288.92 |
#6 | Louisville | $180,100 | $987.54 | $42,323.15 |
#7 | Cincinnati | $169,400 | $1,013.37 | $43,429.97 |
#8 | St. Louis | $174,100 | $1,031.70 | $44,215.56 |
#9 | Birmingham | $202,300 | $1,040.51 | $44,593.35 |
#10 | Buffalo | $154,200 | $1,066.29 | $45,698.05 |
After the dust settles, Pittsburgh ranks as the cheapest metro area in the U.S. to buy a home. According to these calculations, buying a median home in Pittsburgh – which includes the surrounding metro area – requires an annual income of less than $40,000 to buy.
Just missing the list was Detroit, where a salary of $48,002.89 is needed.
The 10 Most Expensive Metro Areas
Now, here are the priciest markets in the country, also based on data from HSH.com:
Rank | Metro Area | Median Home Price | Monthly Payment (PITI) | Salary Needed |
---|---|---|---|---|
#1 | San Jose | $1,250,000 | $5,946.17 | $254,835.73 |
#2 | San Francisco | $952,200 | $4,642.82 | $198,978.01 |
#3 | San Diego | $626,000 | $3,071.62 | $131,640.79 |
#4 | Los Angeles | $576,100 | $2,873.64 | $123,156.01 |
#5 | Boston | $460,300 | $2,491.76 | $106,789.93 |
#6 | New York City | $403,900 | $2,465.97 | $105,684.33 |
#7 | Seattle | $489,600 | $2,458.58 | $105,367.89 |
#8 | Washington, D.C. | $417,400 | $2,202.87 | $94,408.70 |
#9 | Denver | $438,300 | $2,139.02 | $91,672.45 |
#10 | Portland | $389,000 | $1,987.37 | $85,173.08 |
Topping the list of the most expensive metro areas are San Jose and San Francisco, which are both cities fueled by the economic boom in Silicon Valley. Meanwhile, two other major metro areas in California, Los Angeles and San Diego, are not far behind.
New York City only ranks in sixth here, though it is worth noting that the NYC metro area extends well beyond the five boroughs. It includes Newark, Jersey City, and many nearby counties as well.
As a final point, it’s worth mentioning that all cities here (with the exception of Denver) are in coastal states.
Notes on Calculations
Data on median home prices comes from the National Association of Realtors and is based on 2018 Q4 information, while national mortgage rate data is derived from weekly surveys by Freddie Mac and the Mortgage Bankers Association of America for 30-year fixed rate mortgages.
Calculations include tax and homeowners insurance costs to determine the annual salary it takes to afford the base cost of owning a home (principal, interest, property tax and homeowner’s insurance, or PITI) in the nation’s 50 largest metropolitan areas.
Standard 28% “front-end” debt ratios and a 20% down payments subtracted from the median-home-price data are used to arrive at these figures.
Public Opinion
How Much Do Americans Trust the Media?
Media trust among Americans has reached its lowest point since Trump won the 2016 presidential election.

How Much Do Americans Trust the Media?
Media trust among Americans has reached its lowest point in six years.
Gallup began its survey on media trust in 1972, repeating it in 1974 and 1976. After a long period, the public opinion firm restarted the polls in 1997 and has asked Americans about their confidence level in the mass media—newspapers, TV, and radio—almost every year since then.
The above graphic illustrates Gallup’s latest poll results, conducted in September 2023.
Americans’ Trust in Mass Media, 1972-2023
Americans’ confidence in the mass media has sharply declined over the last few decades.
Trust in the mass media | % Great deal/Fair amount | % Not very much | % None at all |
---|---|---|---|
1972 | 68 | 24 | 6 |
1974 | 69 | 21 | 8 |
1976 | 72 | 22 | 4 |
1997 | 53 | 31 | 15 |
1998 | 55 | 35 | 9 |
1999 | 55 | 34 | 11 |
2000 | 51 | 37 | 12 |
2001 | 53 | 33 | 14 |
2002 | 54 | 35 | 11 |
2003 | 54 | 35 | 11 |
2004 | 44 | 39 | 16 |
2005 | 50 | 37 | 12 |
2007 | 47 | 35 | 17 |
2008 | 43 | 35 | 21 |
2009 | 45 | 37 | 18 |
2010 | 43 | 36 | 21 |
2011 | 44 | 36 | 19 |
2012 | 40 | 39 | 21 |
2013 | 44 | 33 | 22 |
2014 | 40 | 36 | 24 |
2015 | 40 | 36 | 24 |
2016 | 32 | 41 | 27 |
2017 | 41 | 29 | 29 |
2018 | 45 | 30 | 24 |
2019 | 41 | 30 | 28 |
2020 | 40 | 27 | 33 |
2021 | 36 | 29 | 34 |
2022 | 34 | 28 | 38 |
2023 | 32 | 29 | 39 |
In 2016, the number of respondents trusting media outlets fell below the tally of those who didn’t trust the media at all. This is the first time that has happened in the poll’s history.
That year was marked by sharp criticism of the media from then-presidential candidate Donald Trump.
In 2017, the use of the term ‘fake news’ rose by 365% on social media, and the term was named the word of the year by dictionary publisher Collins.
The Lack of Faith in Institutions and Social Media
Although there’s no single reason to explain the decline of trust in the traditional media, some studies point to potential drivers.
According to Michael Schudson, a sociologist and historian of the news media and a professor at the Columbia Journalism School, in the 1970s, faith in institutions like the White House or Congress began to decline, consequently impacting confidence in the media.
“That may have been a necessary corrective to a sense of complacency that had been creeping in—among the public and the news media—that allowed perhaps too much trust: we accepted President Eisenhower’s lies about the U-2 spy plane, President Kennedy’s lies about the ‘missile gap,’ President Johnson’s lies about the war in Vietnam, President Nixon’s lies about Watergate,”
Michael Schudson – Columbia Journalism School
More recently, the internet and social media have significantly changed how people consume media. The rise of platforms such as X/Twitter and Facebook have also disrupted the traditional media status quo.
Partisans’ Trust in Mass Media
Historically, Democrats have expressed more confidence in the media than Republicans.
Democrats’ trust, however, has fallen 12 points over the past year to 58%, compared with 11% among Republicans and 29% among independents.
According to Gallup, Republicans’ low confidence in the media has little room to worsen, but Democrat confidence could still deteriorate and bring the overall national reading down further.
The poll also shows that young Democrats have less confidence in the media than older Democrats, while Republicans are less varied in their views by age group.
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