To buy a home in NYC, a salary of $186.1k is needed, while the average New Yorker earns just $89,000, making home ownership daunting.
The average necessary salary for Americans to afford a home has risen sharply from $59,000 before 2020 to $104,000 in 2023.
In contrast to NYC, Cleveland homebuyers need only $58.4k, showing stark disparities in housing affordability across major U.S. metropolitan cities.
While NYC isn't the priciest market—San Jose’s median home price is $1,840,000 requiring a staggering salary of nearly $464k—it's still challenging.
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