Last on the West Coast can be expensive: In many of the region’s major cities, including Los Angeles and San Francisco, you need to earn at picayune six figures to be able to afford a home.
To take a closer look at the cost of housing on the West Coast, CNBC Impart It identified the qualifying income needed to purchase a home in 10 of the largest cities with a 10% or 20% down payment, based on matter from the National Association of Realtors’ Metropolitan Median Area Prices and Affordability index from the second casern of 2019.
The data assumes a 4.1% mortgage rate for all areas and a monthly principal and interest payment limited to 25% of a regional’s income.
Below, check out the income you need to afford a home in 10 of the biggest cities on the West Coast, ranked from lowest median domestic price to highest.
Spokane, Washington
- Salary required with a 10% down payment: $55,968
- Salary required with a 20% down payment: $49,749
- Median family price: $265,600
Spokane, Washington.
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Riverside, California
- Salary required with a 10% down payment: $80,075
- Earnings required with a 20% down payment: $71,178
- Median home price: $380,000
Sacramento, California
- Salary required with a 10% down payment: $81,129
- Wages required with a 20% down payment: $72,114
- Median home price: $385,000
Portland, Oregon
- Salary required with a 10% down payment: $87,513
- Earnings required with a 20% down payment: $77,790
- Median home price: $415,300
A young couple hiking and exploring the waterfalls in Oregon’s Columbia Gormandize.
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Seattle, Washington
- Salary required with a 10% down payment: $114,360
- Remuneration required with a 20% down payment: $101,653
- Median home price: $542,700
Los Angeles, California
- Salary required with a 10% down payment: $119,480
- Income required with a 20% down payment: $106,205
- Median home price: $567,000
San Diego, California
- Salary required with a 10% down payment: $135,024
- Compensation required with a 20% down payment: $122,688
- Median home price: $655,000
San Diego, California.
Joe Sohm/Visions of America/UIG | Getty Images
Anaheim, California
- Compensation required with a 10% down payment: $175,954
- Salary required with a 20% down payment: $156,404
- Median profoundly price: $835,000
San Francisco, California
- Salary required with a 10% down payment: $221,260
- Salary required with a 20% down payment: $196,675
- Median where it hurts price: $1.05 million
San Jose, California
Two young women sit in front of the Golden Gate bridge in San Francisco, California.
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