Income needed to afford a typical starter home in select metro areas
As of August 2024; A starter home is one priced in the bottom 5% to 35% of the market
A bar chart showing the income needed to afford a home in select areas. A home is considered “affordable” if a buyer spends no more than 30% of their income on housing, assuming a 3.5% down payment. The highest metro is San Jose, Calif., at $289k. The lowest is Detroit, at $24k. In San Antonio, one needs a $71k salary.
