The Household Income a Family Needs To Buy a Home in 50 Major Cities in 2024

Housing prices and the general cost of living have soared over the past few years, with average incomes struggling to keep up. According to Zillow, homebuyers need $47,000 more to buy a home than they did in 2020 — a large jump without a substantial change in income.

Even dual-income households still find it difficult to purchase a home in choice locations, with the average salary in the U.S. at $61,220. 

However, household income is not the only metric to consider while buying a home. Current savings, investments, expenses, debt, long-term financial plans, external support and what kind of home you’d like to purchase are other important factors to consider, depending on your family’s needs.  

GOBankingRates analyzed the top 200 major cities in the U.S., looking at their population totals, median incomes and average household values in each city. From this data, the household income a family needs to buy a home in 2024 varies greatly across the U.S.

Here’s the household income a family needs to purchase a home in 50 major cities in the U.S:

• Population total: 393,469
• Median income: $71,736
• Livability: 78
• Household average value: $324,247
• Household 10% down payment: $32,424.70
• Monthly mortgage cost: $1,940
• Monthly expenditure cost: $2,784
• Monthly total cost: $4,724
• Salary needed: $113,373

• Population total: 395,951
• Median income: $60,712
• Livability: 68
• Household average value: $197,243
• Household 10% down payment: $19,724.30
• Monthly mortgage cost: $1,180
• Monthly expenditure cost: $2,868
• Monthly total cost: $4,048
• Salary needed: $97,147

• Population total: 404,321
• Median income: $73,827
• Livability: 57
• Household average value: $386,811
• Household 10% down payment: $38,681.10
• Monthly mortgage cost: $2,314
• Monthly expenditure cost: $2,822
• Monthly total cost: $5,136
• Salary needed: $123,257

• Population total: 411,938
• Median income: $56,648
• Livability: 75
• Household average value: $209,581
• Household 10% down payment: $20,958.10
• Monthly mortgage cost: $1,254
• Monthly expenditure cost: $2,688
• Monthly total cost: $3,941
• Salary needed: $94,593

• Population total: 426,877
• Median income: $76,332
• Livability: 78
• Household average value: $342,444
• Household 10% down payment: $34,244.40
• Monthly mortgage cost: $2,048
• Monthly expenditure cost: $2,964
• Monthly total cost: $5,013
• Salary needed: $120,301

• Population total: 437,825
• Median income: $94,389
• Livability: 71
• Household average value: $890,225
• Household 10% down payment: $89,022.50
• Monthly mortgage cost: $5,325
• Monthly expenditure cost: $3,441
• Monthly total cost: $8,766
• Salary needed: $210,375

• Population total: 443,665
• Median income: $54,858
• Livability: 81
• Household average value: $635,356
• Household 10% down payment: $63,535.60
• Monthly mortgage cost: $3,800
• Monthly expenditure cost: $2,803
• Monthly total cost: $6,603
• Salary needed: $158,477

• Population total: 457,900
• Median income: $87,544
• Livability: 83
• Household average value: $414,686
• Household 10% down payment: $41,468.60
• Monthly mortgage cost: $2,481
• Monthly expenditure cost: $3,092
• Monthly total cost: $5,573
• Salary needed: $133,747

• Population total: 462,293
• Median income: $78,995
• Livability: 69
• Household average value: $916,271
• Household 10% down payment: $91,627.10
• Monthly mortgage cost: $5,481
• Monthly expenditure cost: $2,983
• Monthly total cost: $8,464
• Salary needed: $203,137

• Population total: 465,517
• Median income: $78,631
• Livability: 84
• Household average value: $452,411
• Household 10% down payment: $45,241.10
• Monthly mortgage cost: $2,706
• Monthly expenditure cost: $2,784
• Monthly total cost: $5,490
• Salary needed: $131,753

• Population total: 479,612
• Median income: $79,026
• Livability: 79
• Household average value: $466,279
• Household 10% down payment: $46,627.90
• Monthly mortgage cost: $2,789
• Monthly expenditure cost: $2,854
• Monthly total cost: $5,643
• Salary needed: $135,435

• Population total: 489,201
• Median income: $70,202
• Livability: 83
• Household average value: $283,135
• Household 10% down payment: $28,313.50
• Monthly mortgage cost: $1,694
• Monthly expenditure cost: $3,046
• Monthly total cost: $4,740
• Salary needed: $113,750

• Population total: 494,838
• Median income: $77,655
• Livability: 78
• Household average value: $452,015
• Household 10% down payment: $45,201.50
• Monthly mortgage cost: $2,704
• Monthly expenditure cost: $2,773
• Monthly total cost: $5,477
• Salary needed: $131,447

• Population total: 503,390
• Median income: $73,766
• Livability: 81
• Household average value: $452,888
• Household 10% down payment: $45,288.80
• Monthly mortgage cost: $2,709
• Monthly expenditure cost: $2,722
• Monthly total cost: $5,431
• Salary needed: $130,349

• Population total: 505,958
• Median income: $65,256
• Livability: 78
• Household average value: $243,648
• Household 10% down payment: $24,364.80
• Monthly mortgage cost: $1,457
• Monthly expenditure cost: $2,653
• Monthly total cost: $4,110
• Salary needed: $98,651

• Population total: 523,600
• Median income: $78,954
• Livability: 73
• Household average value: $491,908
• Household 10% down payment: $49,190.80
• Monthly mortgage cost: $2,942
• Monthly expenditure cost: $3,044
• Monthly total cost: $5,986
• Salary needed: $143,673

• Population total: 541,033
• Median income: $52,049
• Livability: 73
• Household average value: $341,273
• Household 10% down payment: $34,127.30
• Monthly mortgage cost: $2,041
• Monthly expenditure cost: $2,591
• Monthly total cost: $4,633
• Salary needed: $111,186

• Population total: 541,528
• Median income: $63,001
• Livability: 63
• Household average value: $391,610
• Household 10% down payment: $39,161
• Monthly mortgage cost: $2,342
• Monthly expenditure cost: $2,832
• Monthly total cost: $5,174
• Salary needed: $124,176

• Population total: 562,551
• Median income: $61,503
• Livability: 72
• Household average value: $335,832
• Household 10% down payment: $33,583.20
• Monthly mortgage cost: $2,009
• Monthly expenditure cost: $2,588
• Monthly total cost: $4,597
• Salary needed: $110,336

• Population total: 573,299
• Median income: $49,733
• Livability: 79
• Household average value: $205,132
• Household 10% down payment: $20,513.20
• Monthly mortgage cost: $1,227
• Monthly expenditure cost: $2,798
• Monthly total cost: $4,025
• Salary needed: $96,602

• Population total: 584,548
• Median income: $58,349
• Livability: 77
• Household average value: $186,037
• Household 10% down payment: $18,603.70
• Monthly mortgage cost: $1,113
• Monthly expenditure cost: $2,714
• Monthly total cost: $3,827
• Salary needed: $91,846

• Population total: 629,176
• Median income: $63,114
• Livability: 66
• Household average value: $246,451
• Household 10% down payment: $24,645.10
• Monthly mortgage cost: $1,474
• Monthly expenditure cost: $2,551
• Monthly total cost: $4,025
• Salary needed: $96,608

• Population total: 630,027
• Median income: $48,090
• Livability: 70
• Household average value: $149,486
• Household 10% down payment: $14,948.60
• Monthly mortgage cost: $894
• Monthly expenditure cost: $2,633
• Monthly total cost: $3,528
• Salary needed: $84,661

• Population total: 636,787
• Median income: $37,761
• Livability: 73
• Household average value: $72,292
• Household 10% down payment: $7,229.20
• Monthly mortgage cost: $432
• Monthly expenditure cost: $2,599
• Monthly total cost: $3,031
• Salary needed: $72,744

• Population total: 644,835
• Median income: $66,356
• Livability: 82
• Household average value: $441,334
• Household 10% down payment: $44,133.40
• Monthly mortgage cost: $2,640
• Monthly expenditure cost: $2,806
• Monthly total cost: $5,446
• Salary needed: $130,708

• Population total: 646,101
• Median income: $85,876
• Livability: 78
• Household average value: $566,065
• Household 10% down payment: $56,606.50
• Monthly mortgage cost: $3,386
• Monthly expenditure cost: $2,957
• Monthly total cost: $6,343
• Salary needed: $152,230

• Population total: 665,945
• Median income: $89,212
• Livability: 77
• Household average value: $803,072
• Household 10% down payment: $80,307.20
• Monthly mortgage cost: $4,804
• Monthly expenditure cost: $3,358
• Monthly total cost: $8,161
• Salary needed: $195,873

• Population total: 670,587
• Median income: $101,722
• Livability: 75
• Household average value: $733,917
• Household 10% down payment: $73,391.70
• Monthly mortgage cost: $4,390
• Monthly expenditure cost: $3,509
• Monthly total cost: $7,899
• Salary needed: $189,569

• Population total: 677,181
• Median income: $55,710
• Livability: 81
• Household average value: $223,722
• Household 10% down payment: $22,372.20
• Monthly mortgage cost: $1,338
• Monthly expenditure cost: $2,485
• Monthly total cost: $3,823
• Salary needed: $91,752

• Population total: 681,088
• Median income: $64,251
• Livability: 81
• Household average value: $207,622
• Household 10% down payment: $20,762.20
• Monthly mortgage cost: $1,242
• Monthly expenditure cost: $2,690
• Monthly total cost: $3,932
• Salary needed: $94,359

• Population total: 684,103
• Median income: $71,328
• Livability: 78
• Household average value: $453,841
• Household 10% down payment: $45,384.10
• Monthly mortgage cost: $2,715
• Monthly expenditure cost: $2,740
• Monthly total cost: $5,455
• Salary needed: $130,921

• Population total: 710,800
• Median income: $85,853
• Livability: 72
• Household average value: $625,555
• Household 10% down payment: $62,555.50
• Monthly mortgage cost: $3,742
• Monthly expenditure cost: $3,084
• Monthly total cost: $6,826
• Salary needed: $163,826

• Population total: 734,603
• Median income: $116,068
• Livability: 75
• Household average value: $974,599
• Household 10% down payment: $97,459.90
• Monthly mortgage cost: $5,830
• Monthly expenditure cost: $3,039
• Monthly total cost: $8,869
• Salary needed: $212,847

• Population total: 851,036
• Median income: $136,689
• Livability: 75
• Household average value: $1,437,512
• Household 10% down payment: $143,751.20
• Monthly mortgage cost: $8,599
• Monthly expenditure cost: $3,580
• Monthly total cost: $12,178
• Salary needed: $292,279

• Population total: 875,045
• Median income: $74,070
• Livability: 80
• Household average value: $409,432
• Household 10% down payment: $40,943.20
• Monthly mortgage cost: $2,449
• Monthly expenditure cost: $2,773
• Monthly total cost: $5,222
• Salary needed: $125,328

• Population total: 882,006
• Median income: $59,110
• Livability: 76
• Household average value: $232,511
• Household 10% down payment: $23,251.10
• Monthly mortgage cost: $1,391
• Monthly expenditure cost: $2,651
• Monthly total cost: $4,041
• Salary needed: $96,995

• Population total: 902,449
• Median income: $62,994
• Livability: 81
• Household average value: $262,926
• Household 10% down payment: $26,292.60
• Monthly mortgage cost: $1,573
• Monthly expenditure cost: $2,721
• Monthly total cost: $4,294
• Salary needed: $103,054

• Population total: 924,663
• Median income: $72,726
• Livability: 80
• Household average value: $309,142
• Household 10% down payment: $30,914.20
• Monthly mortgage cost: $1,849
• Monthly expenditure cost: $2,790
• Monthly total cost: $4,639
• Salary needed: $111,336

• Population total: 950,203
• Median income: $64,138
• Livability: 84
• Household average value: $310,790
• Household 10% down payment: $31,079
• Monthly mortgage cost: $1,859
• Monthly expenditure cost: $2,755
• Monthly total cost: $4,614
• Salary needed: $110,727

• Population total: 958,202
• Median income: $86,556
• Livability: 83
• Household average value: $578,348
• Household 10% down payment: $57,834.80
• Monthly mortgage cost: $3,459
• Monthly expenditure cost: $2,790
• Monthly total cost: $6,249
• Salary needed: $149,976

• Population total: 1,001,176
• Median income: $136,010
• Livability: 79
• Household average value: $1,581,617
• Household 10% down payment: $158,161.70
• Monthly mortgage cost: $9,461
• Monthly expenditure cost: $3,445
• Monthly total cost: $12,906
• Salary needed: $309,747

• Population total: 1,300,642
• Median income: $63,985
• Livability: 81
• Household average value: $336,851
• Household 10% down payment: $33,685.10
• Monthly mortgage cost: $2,015
• Monthly expenditure cost: $2,777
• Monthly total cost: $4,792
• Salary needed: $115,001

• Population total: 1,383,987
• Median income: $98,657
• Livability: 75
• Household average value: $1,163,681
• Household 10% down payment: $116,368.10
• Monthly mortgage cost: $6,961
• Monthly expenditure cost: $3,243
• Monthly total cost: $10,204
• Salary needed: $244,888

• Population total: 1,445,662
• Median income: $59,593
• Livability: 80
• Household average value: $262,090
• Household 10% down payment: $26,209
• Monthly mortgage cost: $1,568
• Monthly expenditure cost: $2,645
• Monthly total cost: $4,213
• Salary needed: $101,104

• Population total: 1,593,208
• Median income: $57,537
• Livability: 76
• Household average value: $217,595
• Household 10% down payment: $21,795.50
• Monthly mortgage cost: $1,302
• Monthly expenditure cost: $2,881
• Monthly total cost: $4,183
• Salary needed: $100,388

• Population total: 1,609,456
• Median income: $72,092
• Livability: 76
• Household average value: $443,451
• Household 10% down payment: $44,345.10
• Monthly mortgage cost: $2,653
• Monthly expenditure cost: $2,734
• Monthly total cost: $5,386
• Salary needed: $129,273

• Population total: 2,296,253
• Median income: $60,440
• Livability: 74
• Household average value: $277,804
• Household 10% down payment: $27,780.40
• Monthly mortgage cost: $1,662
• Monthly expenditure cost: $2,715
• Monthly total cost: $4,377
• Salary needed: $105,044

• Population total: 2,721,914
• Median income: $71,673
• Livability: 78
• Household average value: $306,126
• Household 10% down payment: $30,612.60
• Monthly mortgage cost: $1,831
• Monthly expenditure cost: $2,936
• Monthly total cost: $4,767
• Salary needed: $114,414

• Population total: 3,881,041
• Median income: $76,244
• Livability: 67
• Household average value: $1,043,216
• Household 10% down payment: $104,321.60
• Monthly mortgage cost: $6,240
• Monthly expenditure cost: $3,004
• Monthly total cost: $9,245
• Salary needed: $221,869

• Population total: 8,622,467
• Median income: $76,607
• Livability: 75
• Household average value: $777,820
• Household 10% down payment: $77,782
• Monthly mortgage cost: $4,653
• Monthly expenditure cost: $3,637
• Monthly total cost: $8,290
• Salary needed: $198,958

Methodology: For this study, GOBankingRates analyzed the top 200 major cities by population as sourced from the U.S. Census American Community Survey. For each city, a number of factors were found, including total population, total households, household median income as sourced from the U.S. Census American Community Survey, livability index as sourced from AreaVibes, cost of living indexes as sourced from Sperlings BestPlaces, and the average single family home as sourced from Zillow Home Value Index. Assuming a 10% down payment and using the national average 30-year fixed mortgage rate, the average mortgage cost can be calculated. With the cost of living indexes and using the national average expenditure costs for a family, sourced from the Bureau of Labor Statistics 2022 Consumer Expenditure Survey for married couple with kid(s). Using the average expenditure and average mortgage costs, the total monthly cost of living can be calculated. Using the 50/30/20 rule that states the needs should not exceed 50% of the household income, the average household income is needed can be calculated. The cities were sorted by their total population to show the average household income a family needs to buy a home in major U.S. cities. All data was collected on and is up to date as of June 6, 2024.