On a Salary Basis, Owning in Chicago is Downright Affordable

by Peter Thomas Ricci

We often hear about how affordable a given housing market is, but looking at the actual salary needed to buy is quite eye opening.

To comfortably own a home in the Chicagoland region, a prospective homebuyer must make at least $52,866.88 in yearly salary.

That was the finding of a new study by HCH.com, which compared median home price data from the National Association of Realtors and average 30-year FRMs to see how much money was necessary to handle a mortgage in the nation’s largest housing markets.

Of course, Chicago was hardly the only metro area that HCH.com analyzed; for a more complete picture of its findings, take a look at our graph below:

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