Phoenix is one of the more affordable major metros in which to buy a home

Phoenix is the 8th most affordable U.S. city to buy your own home!

#8  Phoenix @ $41,250.52 in income (Photo: Tom Tingle / The Arizona Republic)

Can you afford to buy a median-priced house on your salary?

Trying to get away from the ice, snow, rain, bugs, cloudy days? Well, if that be the case, Phoenix just soared to the top of your list of preferred areas you want to move to! If you find you miss the sleet and snow, Flagstaff is a couple of hours away. Enjoy the skiing and then come home to sunny Phoenix.

It might be a stretch in many elite coastal cities, but there's always the nation's heartland to consider.

To calculate affordability, consumer-loan researcher HSH.com used the National Association of Realtors' second-quarter data for median home prices and HSH.com's second-quarter average interest rate for 30-year, fixed-rate mortgages. Researchers calculated how much of a homeowner's salary it would take to afford the base cost of owning a home.

Phoenix ranked in the top third of housing affordability.

Here are the 27 metropolitan areas, ranked by the salary needed in those areas to afford a median-priced home. Pittsburgh is the most affordable; San Francisco, the least.

  1. Pittsburgh - $33,128.20
  2. Cleveland - $33,881.55
  3. Cincinnati - $35,864.16
  4. St. Louis - $36,020.47
  5. Detroit - $36,236.03
  6. Tampa - $37,913.32
  7. Atlanta - $38,005.28
  8. Phoenix - $41,250.52
  9. Orlando - $43,163.95
  10. San Antonio - $46,304.97
  11. Minneapolis - $49,255.87
  12. Dallas - $50,102.98
  13. Houston - $51,782.56
  14. Philadelphia - $54,323.02
  15. Baltimore - $57,668.41
  16. Chicago - $59,315.49
  17. Sacramento - $59,778.52
  18. Miami - $60,774.40
  19. Portland - $61,706.20
  20. Denver - $63,664.45
  21. Seattle - $74,674.89
  22. Boston - $84,572.32
  23. Washington - $84,999.14
  24. Los Angeles - $86,800.40
  25. New York City - 89.939.45
  26. San Diego - $100,091.74
  27. San Francisco - $150,511.88

Sam Elam
Associate Broker
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Berkshire Hathaway HomeServices
Arizona Properties

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