How Much You Need to Earn to Buy a House in 20 Major U.S. Cities

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How much do you need to earn to buy a home in the U.S.? For many Americans, the answer is simply “too much.” You need enough for a down payment, but also closing costs, insurance payments and often homeowners association fees.

Online mortgage resource HSH.com calculates how much you must earn to afford the principal, interest, taxes and insurance on a median-priced home in the biggest U.S. metros.

These rankings use data from the National Association of Realtors, Freddie Mac and the Mortgage Bankers Association of America. They assume a 30-year fixed-rate mortgage at 4.9 percent interest (slightly higher in a few cities) and a 20 percent down payment.

Here are the cities with the most and least expensive real estate markets.

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