+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

Here's what you need to earn to buy a home and live comfortably in 27 US cities

Jul 14, 2016, 21:05 IST

Patrick Smith

For those hoping to own a home, there's some good news: the salary required to buy a house and live comfortably is dropping throughout the U.S.

Advertisement

That's according to new data out from Finder.com. The personal finance website calculated salary requirements throughout the nation and found that while home values are on the rise, the average home loan interest rates are decreasing - which means it's getting more affordable for the average American to live comfortably and buy a house.

While living "comfortably" may have different definitions for different people, Finder defines it as being able to buy a home (after saving up a 20% deposit), cover typical expenditures, and pay off annual household debt.

Since Finder last analyzed the cost of living nationwide in January, a few things have changed. For those hoping to buy a home in Colorado Springs, Denver or Harrisburg, it's become more expensive in the last six months, and New York City jumped up one spot in the ranking. Northern California salary requirements, however, remain the highest in the U.S.

Here's how much you'd have to earn to live comfortably in the 27 most expensive cities around the nation.

Advertisement

You are subscribed to notifications!
Looks like you've blocked notifications!
Next Article