Americans searching for homes today are facing some of the harshest conditions yet. Some people are opting for extreme measures, like living in tiny homes in expensive neighborhoods, moving in with family members, or, sometimes, a combination of both.
A number of prospective homeowners have uprooted their lives and moved to different parts of the country — or even the world — in search of a more affordable lifestyle.
The South, in particular, saw a large influx of Northerners seeking lower home prices and a lower overall cost of living. The Midwest, too, has become a hot destination due to its growing affordability.
How much money you make plays a major role in where you can afford to live. A report from Consumer Affairs shows that the amount you need to make in order to buy a home doesn’t generally align with how much people are making.
The median household income in the US was $83,730 in 2024, according to the US Census Bureau. The Consumer Affairs report found that an annual income of $120,796 is needed for homeownership, assuming a 10% down payment. That number varies depending on where you live.
The report found that California is home to the most cities that require a handsome salary, with nine out of the 10 cities in the top 10 being in the Golden State. Meanwhile, the cities that support salaries on the lower end are scattered throughout the South and Midwest.
See what cities require the highest and lowest salaries to afford a home.
The 10 cities that require the least income to afford a home
10. Macon, Georgia
Income: $67,832
Median home-sale price: $197,500
Population: 157,056 (Macon-Bibb County)
9. Fort Smith, Arkansas
Income: $67,064
Median home-sale price: $196,000
Population: 90,507
8. Columbus, Georgia
Income: $66,245
Median home-sale price: $210,000
Population: 201,830
7. Mobile, Alabama
Income: $66,241
Median home-sale price: $232,250
Population: 201,367
6. Binghamton, New York
Income: $65,989
Median home-sale price: $175,000
Population: 46,773
5. Peoria, Illinois
Income: $65,486
Median home-sale price: $145,900
Population: 111,696
4. Flint, Michigan
Income: $63,535
Median home-sale price: $50,000
Population: 79,735
3. Shreveport, Louisiana
Income: $63,030
Median home-sale price: $185,000
Population: 176,578
2. Youngstown, Ohio
Income: $59,433
Median home-sale price: $90,000
Population: 59,123
1. Huntington, West Virginia
Income: $53,650
Median home-sale price: $144,450
Population: $44,942
The 10 cities that require the most income to afford a home
10. Honolulu, HI
Income needed: $255,280
Median sales price: $605,000
Population: 344,967
9. Salinas, CA
Income needed: $262,403
Median sales price: $699,000
Population: 160,783
8. Oxnard, CA
Income needed: $276,805
Median sales price: $797,500
Population: 200,616
7. San Luis Obispo, CA
Income needed: $280,591
Median sales price: $1,102,500
Population: 49,729
6. San Diego, CA
Income needed: $293,618
Median sales price: $950,000
Population: 1,404,452
5. Los Angeles, CA
Income needed: $301,221
Median sales price: $1,025,000
Population: 3,878,704
4. Santa Maria, CA
Income needed: $305,535
Median sales price: $617,500
Population: 111,346
3. Santa Cruz, CA
Income needed: $354,973
Median sales price: $1,352,000
Population: 62,581
2. San Francisco, CA
Income needed: $358,090
Median sales price: $1,687,500
Population: 827,526
1. San Jose, CA
Income needed: $501,012
Median sales price: $1,489,000
Population: 997,368
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The post You now need a six-figure salary to buy a home in most of the US. Here are the 10 most and 10 least expensive cities to buy one. appeared first on Business Insider.
