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Salaries needed to own a home in 25 major U.S. cities

Salaries needed to own a home in 25 major U.S. cities

It should come as no surprise that in order to own a home in cities like New York or Los Angeles, you have to have a higher than average salary.  But what about other cities like Dallas, Chicago or even right here in Orlando?  Mortgage resource website HSH.com took a look at mortgage rates and median home prices in 25 of the country's largest metropolitan areas to determine what salary one would need to own a home in a particular city. The salary requirements are based on the ability to cover the principal and interest payments on the average home, with property taxes, insurance and other expenses not factoring into the calculation. The study, which uses data collected...

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