Across the country, the salary needed to live in the largest metro areas has fluctuated in 2016, according to a new report from HSH.com.
In the Chicagoland area, the median salary required to live in the metro area is $57,168.35, a 0.15 percent decrease from last quarter. This marks the second straight quarter in which the salary has fallen.
Chicago resides comfortably in the middle when compared to other major cities, as our chart below shows:
| Metro Area | Local Mortgage Rates | Median Home Price | Local Monthly Payment | Local Salary Needed to Buy |
|---|---|---|---|---|
| Atlanta | 3.88% | $167,800 | $859.25 | $36,824.97 |
| Boston | 3.81% | $378,500 | $1,856.81 | $79,577.57 |
| Chicago | 3.89% | $208,600 | $1,333.93 | $57,168.35 |
| Dallas | 3.90% | $210,100 | $1,209.28 | $51,826.29 |
| Houston | 3.90% | $208,000 | $1,199.15 | $51,392.04 |
| Los Angeles | 3.90% | $458,900 | $2,104.21 | $90,180.58 |
| Miami | 3.93% | $286,700 | $1,455.31 | $62,370.25 |
| New York | 3.87% | $381,000 | $1,988.14 | $85,205.89 |
| San Francisco | 3.81% | $770,300 | $3,364.57 | $144,196.08 |
| Seattle | 4.02% | $383,100 | $1,809.01 | $77,529.01 |