Coinscribed Data Study
The Home Affordability Index: Income Needed to Buy in 50 US Cities
How much do you actually need to earn to buy a typical home where you live? We ran the numbers for 50 major US metros using the classic 28% rule, a 30-year fixed mortgage, and a 20% down payment. The methodology below is fully transparent, so every figure is reproducible.
Key findings
- San Jose, CA is the hardest metro on the list — a household needs about $388,997 a year to afford the median home.
- Pittsburgh, PA is the most attainable, at roughly $68,640 a year.
- The gap between the most and least expensive metro is more than 6× — location, not just income, drives affordability.
Income needed to afford a median home, by metro
| Metro | Median home price | Monthly housing cost | Income needed | Price-to-income |
|---|---|---|---|---|
| San Jose, CA | $1,388,472 | $9,077 | $388,997 | 3.6× |
| Los Angeles, CA | $1,034,500 | $6,763 | $289,828 | 3.6× |
| San Francisco, CA | $957,475 | $6,259 | $268,248 | 3.6× |
| San Diego, CA | $888,450 | $5,808 | $248,910 | 3.6× |
| Boston, MA | $784,778 | $5,130 | $219,865 | 3.6× |
| Seattle, WA | $749,970 | $4,903 | $210,113 | 3.6× |
| New York, NY | $742,000 | $4,851 | $207,880 | 3.6× |
| Boise, ID | $609,925 | $3,987 | $170,878 | 3.6× |
| Sacramento, CA | $599,950 | $3,922 | $168,083 | 3.6× |
| Portland, OR | $587,750 | $3,842 | $164,665 | 3.6× |
| Riverside, CA | $584,984 | $3,824 | $163,890 | 3.6× |
| Washington, DC | $572,150 | $3,740 | $160,295 | 3.6× |
| Denver, CO | $569,900 | $3,725 | $159,664 | 3.6× |
| Providence, RI | $569,450 | $3,723 | $159,538 | 3.6× |
| Salt Lake City, UT | $564,950 | $3,693 | $158,277 | 3.6× |
| Nashville, TN | $533,995 | $3,491 | $149,605 | 3.6× |
| Miami, FL | $490,000 | $3,203 | $137,279 | 3.6× |
| Phoenix, AZ | $475,000 | $3,105 | $133,077 | 3.6× |
| Las Vegas, NV | $464,900 | $3,039 | $130,247 | 3.6× |
| Hartford, CT | $449,900 | $2,941 | $126,045 | 3.6× |
| Austin, TX | $446,450 | $2,918 | $125,078 | 3.6× |
| Raleigh, NC | $445,000 | $2,909 | $124,672 | 3.6× |
| Richmond, VA | $439,925 | $2,876 | $123,250 | 3.6× |
| Charlotte, NC | $424,950 | $2,778 | $119,055 | 3.6× |
| Dallas, TX | $422,495 | $2,762 | $118,367 | 3.6× |
| Atlanta, GA | $415,000 | $2,713 | $116,267 | 3.6× |
| Orlando, FL | $410,000 | $2,680 | $114,866 | 3.6× |
| Minneapolis, MN | $407,500 | $2,664 | $114,166 | 3.6× |
| Milwaukee, WI | $399,450 | $2,611 | $111,911 | 3.6× |
| Kansas City, MO | $389,975 | $2,549 | $109,256 | 3.6× |
| Chicago, IL | $389,450 | $2,546 | $109,109 | 3.6× |
| Tampa, FL | $385,398 | $2,519 | $107,974 | 3.6× |
| Jacksonville, FL | $379,000 | $2,478 | $106,181 | 3.6× |
| Baltimore, MD | $375,000 | $2,451 | $105,061 | 3.6× |
| Columbus, OH | $374,950 | $2,451 | $105,047 | 3.6× |
| Philadelphia, PA | $374,950 | $2,451 | $105,047 | 3.6× |
| Tucson, AZ | $372,500 | $2,435 | $104,360 | 3.6× |
| Houston, TX | $353,995 | $2,314 | $99,176 | 3.6× |
| Cincinnati, OH | $347,000 | $2,268 | $97,216 | 3.6× |
| San Antonio, TX | $320,374 | $2,094 | $89,757 | 3.6× |
| Oklahoma City, OK | $312,450 | $2,043 | $87,537 | 3.6× |
| Louisville, KY | $312,000 | $2,040 | $87,411 | 3.6× |
| Indianapolis, IN | $310,000 | $2,027 | $86,850 | 3.6× |
| Memphis, TN | $299,950 | $1,961 | $84,035 | 3.6× |
| Birmingham, AL | $289,950 | $1,895 | $81,233 | 3.6× |
| New Orleans, LA | $287,000 | $1,876 | $80,406 | 3.6× |
| St. Louis, MO | $285,950 | $1,869 | $80,112 | 3.6× |
| Detroit, MI | $274,950 | $1,797 | $77,031 | 3.6× |
| Buffalo, NY | $267,450 | $1,748 | $74,929 | 3.6× |
| Pittsburgh, PA | $245,000 | $1,602 | $68,640 | 3.6× |
Price-to-income is the median home price divided by the income needed — a quick read on how many years of that income the home costs. Higher means less affordable relative to the income required.
What if rates were lower? Mortgage rates move the math a lot. If the 30-year fixed rate dropped from 7.32% to 6.32% — every other assumption unchanged — the income needed to afford these same homes would fall by about 8% on average across all 50 metros. That single point of rate is often the difference between priced out and priced in.
And at today's rate? Freddie Mac's 30-year fixed average was 7.18% for the week of Nov 5, 2026 — 0.14 points below this index's 7.32% assumption. At that rate the income needed would be about 1.2% lower on average across the same 50 metros. See today's rates and what they mean.
Want to localize these numbers with your own price, rate, and down payment? Use the mortgage calculator or see How Much House Can I Afford?. To start from a salary instead, see what $80,000 a year or $100,000 a year buys in each metro, or convert any pay in the salary to hourly calculator.
Unsure about a term used here? See the personal finance glossary. For our other computed study, see the Car Loan Cost Index.
Methodology
For each metro we start from its median listing price (Realtor.com median listing price, via FRED, September 2026) and calculate the income a household would need so that total monthly housing cost stays within the 28% front-end rule. Every income figure in the table is computed from that price and the stated assumptions, so any row can be reproduced. Note this is a listing price, what sellers are asking, which usually sits above the median sale price; localize it with the calculator for your exact situation.
- • Down payment: 20% of the home price.
- • Mortgage: 30-year fixed at 7.32% APR.
- • Property tax + insurance: estimated at 1.25% of the home price per year, added to principal & interest.
- • Affordability rule: housing cost must be at or below 28% of gross monthly income (the classic 28% front-end rule).
- • Excluded: HOA dues, PMI, and metro-specific tax variation, so real requirements can be higher.
The monthly principal & interest uses the standard fixed-rate amortization formula — the same one behind the Coinscribed mortgage calculator, so the study and the tool always agree.
Frequently asked questions
- It depends far more on where you buy than on any national figure. Applying the 28% front-end rule to median prices across 50 US metros, the required household income ranges from about $68,640 a year in Pittsburgh, PA to roughly $388,997 in San Jose, CA — assuming a 20% down payment and a 30-year fixed mortgage at 7.32%. Look up your own metro rather than relying on an average.
- The 28% rule is a lending guideline that keeps your total monthly housing cost — principal, interest, property taxes and insurance — at or below 28% of your gross monthly income. Working it backwards from a home price is how this study calculates the income a household needs, and it is the same front-end ratio most lenders apply.
- Of the 50 metros in this study, Pittsburgh, PA requires the least household income — about $68,640 a year for a median-priced home. San Jose, CA requires the most at roughly $388,997, a spread of around 6x. Affordability here means the income needed to buy, not cost of living overall.
- Significantly. Because interest is built into every payment, a lower rate reduces the qualifying income for the same home. If the 30-year fixed rate fell from 7.32% to 6.32% with every other assumption unchanged, the income needed across these 50 metros would drop by about 8% on average — often the difference between priced out and priced in.
- No. This study assumes 20% because it is the threshold at which conventional loans stop requiring private mortgage insurance, which makes the comparison consistent across metros. Many buyers put down considerably less using conventional, FHA or VA loans; a smaller down payment means a larger loan, a higher monthly payment and usually PMI, so the income required would be higher than shown here.
- Every income figure is computed, not collected. For each metro we start from its median listing price (Realtor.com median listing price, via FRED, September 2026), subtract a 20% down payment, amortise the remaining loan over 30 years at 7.32% (Freddie Mac's 30-year fixed, week of October 22, 2026), add an estimate for property tax and insurance, then solve for the gross income at which that total stays within the 28% limit. The full methodology is on this page so any figure can be reproduced or checked.
Use this study
Journalists and writers are welcome to cite the Coinscribed Home Affordability Index with a link back to this page. Suggested citation:
Coinscribed Home Affordability Index (September 2026 data), https://www.coinscribed.com/home-affordability-index, updated October 23, 2026.
Download the full data (CSV) — every metro, with the assumptions in each row. Free to reuse with attribution under CC BY 4.0.