DOES YOUR SALARY MAKE THE CUT?
Buying a home is one of the biggest purchases most people will ever make. If you’re looking to buy a home in the near future, you’ll want to make sure that you’re not overextending yourself. Doing proper research ahead of time is key to ensure that you can afford your new abode. We at Redefy have put together a list of the estimated salary you’ll need to afford the median price of a home in 40 different cities. Take a look at the list below and see if your city is on the list and how your salary stacks up to the median home price.
The median home prices for these markets is according to Realtor.org for Q2 of 2015.
| CITY/MARKET | MEDIAN HOME PRICE | ESTIMATED SALARY NEEDED |
|---|---|---|
| San Jose | $980,000 | $171,120 |
| San Francisco | $748,300 | $137,755 |
| San Diego | $547,800 | $108,885 |
