The Family Earnings a Household Wants To Purchase a Dwelling in 50 Main Cities in 2024

Housing prices have soared over the past few years, with average incomes struggling to keep up. According to Zillow, homebuyers need $47,000 more to buy a home than they did in 2020 — a large jump without a substantial change in income.

Even dual-income households still find it difficult to purchase a home in choice locations, with the average salary in the U.S. at $61,220.

However, household income is not the only metric to consider while buying a home. Current savings, investments, expenses, debt, long-term financial plans, external support and what kind of home you’d like to purchase are other important factors to consider, depending on your family needs.

GOBankingRates analyzed the top 200 major cities in the U.S., looking at their population totals, the median incomes and the average household values in each city. From this data, the household income a family needs to buy a home in 2024 varies greatly across the U.S. Here is the household income a family needs to purchase a home in 50 major cities in the U.S.

Arlington, Texas

• Population total: 393,469

• Median income: $71,736

• Livability: 78

• Household average value: $324,247

• Household 10% down payment: $32,424.70

• Monthly mortgage cost: $1,940

• Monthly expenditure cost: $2,784

• Monthly total cost: $4,724

• Salary needed: $113,373

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Wichita, Kansas

• Population total: 395,951

• Median income: $60,712

• Livability: 68

• Household average value: $197,243

• Household 10% down payment: $19,724.30

• Monthly mortgage cost: $1,180

• Monthly expenditure cost: $2,868

• Monthly total cost: $4,048

• Salary needed: $97,147

Bakersfield, California

• Population total: 404,321

• Median income: $73,827

• Livability: 57

• Household average value: $386,811

• Household 10% down payment: $38,681.10

• Monthly mortgage cost: $2,314

• Monthly expenditure cost: $2,822

• Monthly total cost: $5,136

• Salary needed: $123,257

Tulsa, Oklahoma

• Population total: 411,938

• Median income: $56,648

• Livability: 75

• Household average value: $209,581

• Household 10% down payment: $20,958.10

• Monthly mortgage cost: $1,254

• Monthly expenditure cost: $2,688

• Monthly total cost: $3,941

• Salary needed: $94,593

Minneapolis

• Population total: 426,877

• Median income: $76,332

• Livability: 78

• Household average value: $342,444

• Household 10% down payment: $34,244.40

• Monthly mortgage cost: $2,048

• Monthly expenditure cost: $2,964

• Monthly total cost: $5,013

• Salary needed: $120,301

Oakland, California

• Population total: 437,825

• Median income: $94,389

• Livability: 71

• Household average value: $890,225

• Household 10% down payment: $89,022.50

• Monthly mortgage cost: $5,325

• Monthly expenditure cost: $3,441

• Monthly total cost: $8,766

• Salary needed: $210,375

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Miami

• Population total: 443,665

• Median income: $54,858

• Livability: 81

• Household average value: $635,356

• Household 10% down payment: $63,535.60

• Monthly mortgage cost: $3,800

• Monthly expenditure cost: $2,803

• Monthly total cost: $6,603

• Salary needed: $158,477

Virginia Beach, Virginia

• Population total: 457,900

• Median income: $87,544

• Livability: 83

• Household average value: $414,686

• Household 10% down payment: $41,468.60

• Monthly mortgage cost: $2,481

• Monthly expenditure cost: $3,092

• Monthly total cost: $5,573

• Salary needed: $133,747

Long Beach, California

• Population total: 462,293

• Median income: $78,995

• Livability: 69

• Household average value: $916,271

• Household 10% down payment: $91,627.10

• Monthly mortgage cost: $5,481

• Monthly expenditure cost: $2,983

• Monthly total cost: $8,464

• Salary needed: $203,137

Raleigh, North Carolina

• Population total: 465,517

• Median income: $78,631

• Livability: 84

• Household average value: $452,411

• Household 10% down payment: $45,241.10

• Monthly mortgage cost: $2,706

• Monthly expenditure cost: $2,784

• Monthly total cost: $5,490

• Salary needed: $131,753

Colorado Springs, Colorado

• Population total: 479,612

• Median income: $79,026

• Livability: 79

• Household average value: $466,279

• Household 10% down payment: $46,627.90

• Monthly mortgage cost: $2,789

• Monthly expenditure cost: $2,854

• Monthly total cost: $5,643

• Salary needed: $135,435

Omaha, Nebraska

• Population total: 489,201

• Median income: $70,202

• Livability: 83

• Household average value: $283,135

• Household 10% down payment: $28,313.50

• Monthly mortgage cost: $1,694

• Monthly expenditure cost: $3,046

• Monthly total cost: $4,740

• Salary needed: $113,750

Atlanta

• Population total: 494,838

• Median income: $77,655

• Livability: 78

• Household average value: $452,015

• Household 10% down payment: $45,201.50

• Monthly mortgage cost: $2,704

• Monthly expenditure cost: $2,773

• Monthly total cost: $5,477

• Salary needed: $131,447

Mesa, Arizona

• Population total: 503,390

• Median income: $73,766

• Livability: 81

• Household average value: $452,888

• Household 10% down payment: $45,288.80

• Monthly mortgage cost: $2,709

• Monthly expenditure cost: $2,722

• Monthly total cost: $5,431

• Salary needed: $130,349

Kansas City, Missouri

• Population total: 505,958

• Median income: $65,256

• Livability: 78

• Household average value: $243,648

• Household 10% down payment: $24,364.80

• Monthly mortgage cost: $1,457

• Monthly expenditure cost: $2,653

• Monthly total cost: $4,110

• Salary needed: $98,651

Sacramento, California

• Population total: 523,600

• Median income: $78,954

• Livability: 73

• Household average value: $491,908

• Household 10% down payment: $49,190.80

• Monthly mortgage cost: $2,942

• Monthly expenditure cost: $3,044

• Monthly total cost: $5,986

• Salary needed: $143,673

Tucson, Arizona

• Population total: 541,033

• Median income: $52,049

• Livability: 73

• Household average value: $341,273

• Household 10% down payment: $34,127.30

• Monthly mortgage cost: $2,041

• Monthly expenditure cost: $2,591

• Monthly total cost: $4,633

• Salary needed: $111,186

Fresno, California

• Population total: 541,528

• Median income: $63,001

• Livability: 63

• Household average value: $391,610

• Household 10% down payment: $39,161

• Monthly mortgage cost: $2,342

• Monthly expenditure cost: $2,832

• Monthly total cost: $5,174

• Salary needed: $124,176

Albuquerque, New Mexico

• Population total: 562,551

• Median income: $61,503

• Livability: 72

• Household average value: $335,832

• Household 10% down payment: $33,583.20

• Monthly mortgage cost: $2,009

• Monthly expenditure cost: $2,588

• Monthly total cost: $4,597

• Salary needed: $110,336

Milwaukee

• Population total: 573,299

• Median income: $49,733

• Livability: 79

• Household average value: $205,132

• Household 10% down payment: $20,513.20

• Monthly mortgage cost: $1,227

• Monthly expenditure cost: $2,798

• Monthly total cost: $4,025

• Salary needed: $96,602

Baltimore

• Population total: 584,548

• Median income: $58,349

• Livability: 77

• Household average value: $186,037

• Household 10% down payment: $18,603.70

• Monthly mortgage cost: $1,113

• Monthly expenditure cost: $2,714

• Monthly total cost: $3,827

• Salary needed: $91,846

Louisville, Kentucky

• Population total: 629,176

• Median income: $63,114

• Livability: 66

• Household average value: $246,451

• Household 10% down payment: $24,645.10

• Monthly mortgage cost: $1,474

• Monthly expenditure cost: $2,551

• Monthly total cost: $4,025

• Salary needed: $96,608

Memphis, Tennessee

• Population total: 630,027

• Median income: $48,090

• Livability: 70

• Household average value: $149,486

• Household 10% down payment: $14,948.60

• Monthly mortgage cost: $894

• Monthly expenditure cost: $2,633

• Monthly total cost: $3,528

• Salary needed: $84,661

Detroit

• Population total: 636,787

• Median income: $37,761

• Livability: 73

• Household average value: $72,292

• Household 10% down payment: $7,229.20

• Monthly mortgage cost: $432

• Monthly expenditure cost: $2,599

• Monthly total cost: $3,031

• Salary needed: $72,744

Las Vegas

• Population total: 644,835

• Median income: $66,356

• Livability: 82

• Household average value: $441,334

• Household 10% down payment: $44,133.40

• Monthly mortgage cost: $2,640

• Monthly expenditure cost: $2,806

• Monthly total cost: $5,446

• Salary needed: $130,708

Portland, Oregon

• Population total: 646,101

• Median income: $85,876

• Livability: 78

• Household average value: $566,065

• Household 10% down payment: $56,606.50

• Monthly mortgage cost: $3,386

• Monthly expenditure cost: $2,957

• Monthly total cost: $6,343

• Salary needed: $152,230

Boston

• Population total: 665,945

• Median income: $89,212

• Livability: 77

• Household average value: $803,072

• Household 10% down payment: $80,307.20

• Monthly mortgage cost: $4,804

• Monthly expenditure cost: $3,358

• Monthly total cost: $8,161

• Salary needed: $195,873

Washington, D.C.

• Population total: 670,587

• Median income: $101,722

• Livability: 75

• Household average value: $733,917

• Household 10% down payment: $73,391.70

• Monthly mortgage cost: $4,390

• Monthly expenditure cost: $3,509

• Monthly total cost: $7,899

• Salary needed: $189,569

El Paso, Texas

• Population total: 677,181

• Median income: $55,710

• Livability: 81

• Household average value: $223,722

• Household 10% down payment: $22,372.20

• Monthly mortgage cost: $1,338

• Monthly expenditure cost: $2,485

• Monthly total cost: $3,823

• Salary needed: $91,752

Oklahoma City, Oklahoma

• Population total: 681,088

• Median income: $64,251

• Livability: 81

• Household average value: $207,622

• Household 10% down payment: $20,762.20

• Monthly mortgage cost: $1,242

• Monthly expenditure cost: $2,690

• Monthly total cost: $3,932

• Salary needed: $94,359

Nashville, Tennessee

• Population total: 684,103

• Median income: $71,328

• Livability: 78

• Household average value: $453,841

• Household 10% down payment: $45,384.10

• Monthly mortgage cost: $2,715

• Monthly expenditure cost: $2,740

• Monthly total cost: $5,455

• Salary needed: $130,921

Denver

• Population total: 710,800

• Median income: $85,853

• Livability: 72

• Household average value: $625,555

• Household 10% down payment: $62,555.50

• Monthly mortgage cost: $3,742

• Monthly expenditure cost: $3,084

• Monthly total cost: $6,826

• Salary needed: $163,826

Seattle

• Population total: 734,603

• Median income: $116,068

• Livability: 75

• Household average value: $974,599

• Household 10% down payment: $97,459.90

• Monthly mortgage cost: $5,830

• Monthly expenditure cost: $3,039

• Monthly total cost: $8,869

• Salary needed: $212,847

San Francisco

• Population total: 851,036

• Median income: $136,689

• Livability: 75

• Household average value: $1,437,512

• Household 10% down payment: $143,751.20

• Monthly mortgage cost: $8,599

• Monthly expenditure cost: $3,580

• Monthly total cost: $12,178

• Salary needed: $292,279

Charlotte, North Carolina

• Population total: 875,045

• Median income: $74,070

• Livability: 80

• Household average value: $409,432

• Household 10% down payment: $40,943.20

• Monthly mortgage cost: $2,449

• Monthly expenditure cost: $2,773

• Monthly total cost: $5,222

• Salary needed: $125,328

Indianapolis

• Population total: 882,006

• Median income: $59,110

• Livability: 76

• Household average value: $232,511

• Household 10% down payment: $23,251.10

• Monthly mortgage cost: $1,391

• Monthly expenditure cost: $2,651

• Monthly total cost: $4,041

• Salary needed: $96,995

Columbus, Ohio

• Population total: 902,449

• Median income: $62,994

• Livability: 81

• Household average value: $262,926

• Household 10% down payment: $26,292.60

• Monthly mortgage cost: $1,573

• Monthly expenditure cost: $2,721

• Monthly total cost: $4,294

• Salary needed: $103,054

Fort Worth, Texas

• Population total: 924,663

• Median income: $72,726

• Livability: 80

• Household average value: $309,142

• Household 10% down payment: $30,914.20

• Monthly mortgage cost: $1,849

• Monthly expenditure cost: $2,790

• Monthly total cost: $4,639

• Salary needed: $111,336

Jacksonville, Florida

• Population total: 950,203

• Median income: $64,138

• Livability: 84

• Household average value: $310,790

• Household 10% down payment: $31,079

• Monthly mortgage cost: $1,859

• Monthly expenditure cost: $2,755

• Monthly total cost: $4,614

• Salary needed: $110,727

Austin, Texas

• Population total: 958,202

• Median income: $86,556

• Livability: 83

• Household average value: $578,348

• Household 10% down payment: $57,834.80

• Monthly mortgage cost: $3,459

• Monthly expenditure cost: $2,790

• Monthly total cost: $6,249

• Salary needed: $149,976

San Jose, California

• Population total: 1,001,176

• Median income: $136,010

• Livability: 79

• Household average value: $1,581,617

• Household 10% down payment: $158,161.70

• Monthly mortgage cost: $9,461

• Monthly expenditure cost: $3,445

• Monthly total cost: $12,906

• Salary needed: $309,747

Dallas

• Population total: 1,300,642

• Median income: $63,985

• Livability: 81

• Household average value: $336,851

• Household 10% down payment: $33,685.10

• Monthly mortgage cost: $2,015

• Monthly expenditure cost: $2,777

• Monthly total cost: $4,792

• Salary needed: $115,001

San Diego

• Population total: 1,383,987

• Median income: $98,657

• Livability: 75

• Household average value: $1,163,681

• Household 10% down payment: $116,368.10

• Monthly mortgage cost: $6,961

• Monthly expenditure cost: $3,243

• Monthly total cost: $10,204

• Salary needed: $244,888

San Antonio

• Population total: 1,445,662

• Median income: $59,593

• Livability: 80

• Household average value: $262,090

• Household 10% down payment: $26,209

• Monthly mortgage cost: $1,568

• Monthly expenditure cost: $2,645

• Monthly total cost: $4,213

• Salary needed: $101,104

Philadelphia

• Population total: 1,593,208

• Median income: $57,537

• Livability: 76

• Household average value: $217,595

• Household 10% down payment: $21,795.50

• Monthly mortgage cost: $1,302

• Monthly expenditure cost: $2,881

• Monthly total cost: $4,183

• Salary needed: $100,388

Phoenix

• Population total: 1,609,456

• Median income: $72,092

• Livability: 76

• Household average value: $443,451

• Household 10% down payment: $44,345.10

• Monthly mortgage cost: $2,653

• Monthly expenditure cost: $2,734

• Monthly total cost: $5,386

• Salary needed: $129,273

Houston

• Population total: 2,296,253

• Median income: $60,440

• Livability: 74

• Household average value: $277,804

• Household 10% down payment: $27,780.40

• Monthly mortgage cost: $1,662

• Monthly expenditure cost: $2,715

• Monthly total cost: $4,377

• Salary needed: $105,044

Chicago

• Population total: 2,721,914

• Median income: $71,673

• Livability: 78

• Household average value: $306,126

• Household 10% down payment: $30,612.60

• Monthly mortgage cost: $1,831

• Monthly expenditure cost: $2,936

• Monthly total cost: $4,767

• Salary needed: $114,414

Los Angeles

• Population total: 3,881,041

• Median income: $76,244

• Livability: 67

• Household average value: $1,043,216

• Household 10% down payment: $104,321.60

• Monthly mortgage cost: $6,240

• Monthly expenditure cost: $3,004

• Monthly total cost: $9,245

• Salary needed: $221,869

New York City

• Population total: 8,622,467

• Median income: $76,607

• Livability: 75

• Household average value: $777,820

• Household 10% down payment: $77,782

• Monthly mortgage cost: $4,653

• Monthly expenditure cost: $3,637

• Monthly total cost: $8,290

• Salary needed: $198,958

Methodology: For this study, GOBankingRates analyzed the top 200 major cities by population as sourced from the U.S. Census American Community Survey. For each city, a number of factors were found, including total population, total households, household median income as sourced from the U.S. Census American Community Survey, livability index as sourced from AreaVibes, cost of living indexes as sourced from Sperlings BestPlaces, and the average single family home as sourced from Zillow Home Value Index. Assuming a 10% down payment and using the national average 30-year fixed mortgage rate, the average mortgage cost can be calculated. With the cost of living indexes and using the national average expenditure costs for a family, sourced from the Bureau of Labor Statistics 2022 Consumer Expenditure Survey for married couple with kid(s). Using the average expenditure and average mortgage costs, the total monthly cost of living can be calculated. Using the 50/30/20 rule that states the needs should not exceed 50% of the household income, the average household income is needed can be calculated. The cities were sorted by their total population to show the average household income a family needs to buy a home in major U.S. cities. All data was collected on and is up to date as of June 6, 2024.

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This article originally appeared on GOBankingRates.com: The Household Income a Family Needs To Buy a Home in 50 Major Cities in 2024