Atlanta ranks No. 4 on home salary index

12:03 AM, Feb 20, 2014   |    comments
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ATLANTA -- Atlanta has been ranked on the "Affordable Home" list before. A new analysis from a mortgage research group puts it in perspective. 

The report from HSH.com asks, "How much salary do you need to earn in order to purchase a median-priced home in your city?"

Atlanta was number four on the list. Here's the complete list with the salary needed to purchase a median priced home:

1.     Cleveland: $19,435.17
2.     Cincinnati: $22,226.95
3.     St. Louis: $22,397.54
4.     Atlanta: $24,390.94
5.     Tampa: $24,650.88
6.     Orlando: $28,298.47
7.     San Antonio: $29,305.47
8.     Dallas: $29,751.24
9.     Houston: $31,298.99
10.   Chicago: $32,388.90
11.   Phoenix: $32,811.94
12.   Minneapolis: $33,800.09
13.   Philadelphia: $36,836.47
14.   Baltimore: $41,155.40
15.   Sacramento: $42,832.20
16.   Miami: $43,918.66
17.   Portland, Ore.: $45,872.78
18.   Denver: $48,122.72
19.   Seattle: $59,129.86
20.   Washington, D.C.: $62,809.63
21.   Boston: $63,673.13
22.   New York City: $66,167.27
23.   Los Angeles: $72,126.90
24.   San Diego: $81,570.40
25.   San Francisco: $115,510.06

If those numbers seem a little low, HSH says they do not include taxes, insurance, and other home expenses. Also, the payments are based on a 20 percent down payment. It also includes a 30-year fixed rate mortgage. Home prices are based on the fourth quarter in 2013. 

According to this list, Atlanta remains one of the most affordable cities to own a home. Do you agree? 


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