A $100,000 salary supports about $285,000 of home with 10% down at a 7.40% rate under the 28% rule — about a fifth of the San Francisco median below, and close to the Houston one. Location is the single biggest variable in home affordability. This hub covers what your salary buys in every major market.
Salary to Buy a Home: State Comparison
Approximate salary needed to buy the median-priced home in each state with 10% down:
| State | Median Home Price | Salary Needed | State Guide |
|---|---|---|---|
| California | ~$750,000 | ~$260,000 | Full guide |
| Colorado | ~$520,000 | ~$180,000 | Full guide |
| Washington | ~$570,000 | ~$198,000 | Full guide |
| New York | ~$430,000 | ~$149,000 | Full guide |
| Virginia | ~$400,000 | ~$139,000 | Full guide |
| Arizona | ~$390,000 | ~$135,000 | Full guide |
| Florida | ~$380,000 | ~$132,000 | Full guide |
| North Carolina | ~$330,000 | ~$114,000 | Full guide |
| Georgia | ~$320,000 | ~$111,000 | Full guide |
| Texas | ~$300,000 | ~$104,000 | Full guide |
Salary needed uses the 28% front-end rule, 10% down, a 7.40% rate (Freddie Mac 30-year average, week of October 8, 2026), property tax at 1.1% and insurance at 0.5% of the price a year, and PMI at 0.7% of the loan a year. Actual property tax rates vary by state. The city table below uses the same assumptions.
Major City Affordability
| City | Median Home Price | Min Household Income | Can I Afford? |
|---|---|---|---|
| San Francisco | ~$1,300,000 | ~$451,000 | Full guide |
| New York City | ~$800,000 | ~$277,000 | Full guide |
| Los Angeles | ~$900,000 | ~$312,000 | Full guide |
| Chicago | ~$360,000 | ~$125,000 | Full guide |
| Dallas | ~$350,000 | ~$121,000 | Full guide |
| Houston | ~$290,000 | ~$100,000 | Full guide |
Why Location Changes Affordability So Much
Three location-specific factors adjust your real buying power beyond just home prices:
1. Property tax rates — Texas has no income tax but ~1.6% property tax rates (adding ~$400/month on a $300K home). California caps property tax at 1% under Prop 13 but has high state income tax. New Jersey has the highest property taxes in the nation (~2.2%).
2. State income tax — States with no income tax (Texas, Florida, Washington, Nevada) give you ~5–10% more take-home pay, which translates directly into buying power. On $100K salary, moving from California (~9.3% state tax) to Texas saves $7,000–$9,000/year.
3. HOA and condo fees — Urban condos and newer planned communities often carry $400–$800/month in HOA fees. This directly reduces the loan payment you can afford. A $600/month HOA on a $100K income leaves you roughly $74,000 less buying power (10% down, 7.40% rate).
Location Guides by State
- Salary to Buy a House in California
- Salary to Buy a House in Colorado
- Salary to Buy a House in Florida
- Salary to Buy a House in New York
- Salary to Buy a House in Texas
City Affordability Guides
Related Hubs
- Affordability by Salary — how much house your income supports nationally
- Income Needed by Home Price — income requirements for any price point
- Home Affordability Guide — full 28/36 rule and down payment analysis
- Homeownership Hub — home prices, property taxes, and cost data by state
- Mortgages Hub — complete mortgage guide
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