A new study from HSH.com ranked the mortgage rates and median home prices in 25 of the country’s largest metro areas to determine how much salary you need to earn to cover payments on an average house.
The lowest was Cleveland ($19,435) and the highest San Francisco ($115,510). Seattle ranked #19 (towards the higher end), HSH estimating that to afford the average home in Seattle you need to be making at least $59,129.86 a year. This study doesn’t include any other expenses like property taxes, insurance, or cost of living.
Out of curiosity, we looked up what kinds of jobs you'd need to have here in Seattle to own a home according to this new figure from HSH. We used NWjobs.com, and picked five common jobs whose average salaries could, and could not, afford a home here on their own.
Jobs making $59,000 or more:
Flight Attendant ($66,442)
Advertising Account Executive ($68,532)
Sheriff/Police chief ($98,015)
Jobs making less than $59,000:
Taxi driver ($32,437)
Auto mechanic ($35,102)
High school teacher ($55,497)
The full analysis and list of the top 25 metro areas from the study can be found on HSH's website.