The salary you need to earn to be able to afford a home in 15 major US cities

How much salary do you need to earn in order to afford the principal, interest, tax and insurance payments on a median-priced home in your.

 · Yes, rent is the big one. This is a good chunk of change you’ll need to fork over. If an apartment goes for $800 a month, you’re looking at laying out $2,400 just to move in. And it’s not enough just to have the money for first, last and security on hand.

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The salary you need to earn to be able to afford a home in 15 major. in 15 major U.S. cities, ranked from smallest to largest required salary.

Salary needed for 530,000 dollar mortgage. This page will calculate how much you need to earn to buy a house that costs $530,000. It assumes a fixed-rate mortgage. A good rule of thumb is to spend no more than 28% of your pre-tax income on your mortgage payment.

You can use the home affordability calculator below to see just how much difference even one percentage point makes when it comes to how much house you can afford. A family earning $72,000 a year with no other debt and a $40,000 down payment saved up could afford a $379,000 house at a 4% fixed rate, according to the calculator.

If you want to buy a home, it will cost you. mortgage site hsh.com has updated its estimate of how much annual income a household would need to buy a home in major metropolitan areas in the US.

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This calculator from MIT tells you how much you need to earn to be able to support yourself and your family without government assistance, based on typical expenses in your area. The A.V. Club.

Raleigh home prices continue to creep up, but the salary you need to pay the mortgage has increased more dramatically. A new study from mortgage research site HSH.com shows that to afford the median.

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“So many people need to earn. major cities such as Chicago, New York, San Francisco, Boston and Los Angeles, it’s still not enough to afford even a humble lifestyle. “The truth is, four or five.