Advertising
Advertising

This Is The Salary You Need To Be A Homeowner In These 20 U.S. Cities

This Is The Salary You Need To Be A Homeowner In These 20 U.S. Cities

People tend to share the false notion that they have to make a substantial amount of money to be a homeowner. Nothing could be farther from the truth. An aspiring homeowner can do it quite cheaply without decreasing their standard of living. In this article, we looked at 20 U.S. cities and discovered the salary you need to be a homeowner.

Pittsburgh

    1. Pittsburgh

    Pittsburgh is famously known as “The Steel City” for its 300+ steel related businesses. On a lesser note, it is also referred to as “The City of Bridges” for its 446 bridges (yes, you read that right). Last year, it was ranked #15 as being the best city for millennials.

    • State: Pennsylvania
    • Estimated Population: 695,000
    • Median Home Price: $135,000
    • Monthly Mortgage Payment: $740.05
    • Salary Needed: $31,716

    Cleveland

      2. Cleveland

      Cleveland is known to some as the home of King James (Lebron James that is) and to others as “The Rock & Roll Capital of the World.” Out of the 50 largest U.S. cities, Cleveland is ranked as the sixteenth most walkable city.

      • State: Ohio
      • Estimated Population: 390,000
      • Median Home Price: $121,200
      • Monthly Mortgage Payment: $746.91
      • Salary Needed: $32,010

      StLouis

        3. St. Louis

        St. Louis is home to the world’s tallest arch, The Gateway Arch. It is Missouri’s tallest accessible building and has became a famous symbol of the city.

        • State: Missouri
        • Estimated Population: 320,000
        • Median Home Price: $138,400
        • Monthly Mortgage Payment: $777.54
        • Salary Needed: $33,323

        Cincinnati

          4. Cincinnati

          Historically, Cincinnati was the first major American city after the American Revolution and still is considered as the first purely American city. It is also known as “The Chili Capital of the World” because it has the most chili restaurants per capita.

          Advertising

          • State: Ohio
          • Estimated Population: 300,000
          • Median Home Price: $138,100
          • Monthly Mortgage Payment: $781.32
          • Salary Needed: $33,485

          Detroit

            5. Detroit

            Unfortunately, when most people think of Detroit, they tend to see its negatives as the overall consensus. Some people view Detroit as a disaster while others are taking advantage of the opportunities from the results of the disaster. It is the only big city, where you can buy a house in a neighborhood that is close to downtown for under $100,000.

            The city has been incentivizing people to move under their Live Downtown and Live Midtown programs, which offers rent allowances or forgivable home loans to participants who work for one of their sponsoring employers.

            • State: Michigan
            • Estimated Population: 690,000
            • Median Home Price: $135,800
            • Monthly Mortgage Payment: $828.83
            • Salary Needed: $35,521

            atl

              6. Atlanta

              Did you know that Atlanta is considered a world class city? It is ranked #45 among cities around the world and ranked #8 among cities in the nation. The city has appeared on the Forbes magazine list as one of the best cities for business and careers.

              • State: Georgia
              • Estimated Population: 450,000
              • Median Home Price: $157,000
              • Monthly Mortgage Payment: $835.34
              • Salary Needed: $35,800

              tampa

                7. Tampa

                Interestingly, Tampa is ranked as the 5th most popular city to live, according to a Pew Research study. It is also recognized as a Gamma+ world city by Loughborough University. (A gamma city is a city that links a smaller region or state to the global economy.)

                • State: Florida
                • Estimated Population: 350,000
                • Median Home Price: $160,000
                • Monthly Mortgage Payment: $880.42
                • Salary Needed: $37,732

                phoenix

                  8. Phoenix

                  Do you hate Daylight Savings Time? If so, you’re in luck because Phoenix does not observe it. It is also a city that offers countless cuisines, including (but not limited to) Mexican, Korean, Creole, Greek, Hawaiian, Thai, Italian, Indian, Brazilian, and French.

                  Advertising

                  • State: Arizona
                  • Estimated Population: 1,450,000
                  • Median Home Price: $200,300
                  • Monthly Mortgage Payment: $948.69
                  • Salary Needed: $40,658

                  Orlando

                    9. Orlando

                    Orlando (or The Theme Park Capital of the World) attracts more than 57 million tourists a year, including 4+ million international tourists. According to the Pew research study mentioned earlier, Orlando is the fourth most popular city to live.

                    • State: Florida
                    • Estimated Population: 255,000
                    • Median Home Price: $180,000
                    • Monthly Mortgage Payment: $983.34
                    • Salary Needed: $42,143

                    san antonio

                      10. San Antonio

                      Within the last 5 years, San Antonio has been in the nation’s top 10 as one of the fastest growing cities. Forbes magazine ranks the city for having the 9th best job market and as one of the best cities for business and careers.

                      • State: Texas
                      • Estimated Population: 1,410,000
                      • Median Home Price: $185,500
                      • Monthly Mortgage Payment: $1,058.73
                      • Salary Needed: $45,374

                      Dallas

                        11. Dallas

                        Like San Antonio, Dallas has also been in the nation’s top 10 as one of the fastest growing cities. It has the fourteenth largest GDP in the world, according to the OECD. Contrary to popular belief about Texan culture, Dallas has the 6th largest LGBT population in the nation.

                        • State: Texas
                        • Estimated Population: 1,200,000
                        • Median Home Price: $189,600
                        • Monthly Mortgage Payment: $1,138.35
                        • Salary Needed: $48,786

                        houston

                          12. Houston

                          Houston is the largest city in the Southern U.S. and considered by The Huffington Post to be the most diverse city in the nation. Within the last 5 years, it has appeared on multiple Forbes lists for being the best city for shopping, buying a home, and for college graduates.

                          • State: Texas
                          • Estimated Population: 2,200,000
                          • Median Home Price: $199,300
                          • Monthly Mortgage Payment: $1,166.28
                          • Salary Needed: $49,983

                          Advertising

                          Philadelphia

                            13. Philadelphia

                            Did you know that the city of brotherly love has the most outdoor sculptures and murals than any other U.S. city? Rightly so, Philadelphia has a rich history that is commonly expressed through the arts, making it the city with the most public art.

                            If you are hungry for more than art, then you’re in luck. Philadelphia is known for the “hoagie” and the Philly cheesesteak.

                            • State: Pennsylvania
                            • Estimated Population: 1,560,000
                            • Median Home Price: $213,300
                            • Monthly Mortgage Payment: $1,187.99
                            • Salary Needed: $50,914

                            TE HARBOR FOX

                              14. Baltimore

                              Like Philadelphia, Baltimore is also a historic city. It was the home of Edgar Allan Poe and Frederick Douglass. Francis Scott Key also wrote our national anthem there. The city has 280 properties that are registered as historic in the National Register of Historic Places.

                              • State: Maryland
                              • Estimated Population: 620,000
                              • Median Home Price: $233,200
                              • Monthly Mortgage Payment: $1,228.78
                              • Salary Needed: $52,661

                              chicago

                                15. Chicago

                                Chicago is the largest city in the Midwestern U.S. and commonly referred to as “The Windy City.” It is also a major world convention destination. The McCormick Place is the largest convention center in the nation and the 3rd largest in the world.

                                • State: Illinois
                                • Estimated Population: 420,000
                                • Median Home Price: $195,100
                                • Monthly Mortgage Payment: $1,268.09
                                • Salary Needed: $54,346

                                Miami

                                  16. Miami

                                  Miami is the 2nd largest city with a Spanish-speaking majority and sometimes nicknamed as “The Capital of Latin America.” There is one thing that Miami and most major Latin American cities have in common: the absence of winter.

                                  • State: Florida
                                  • Estimated Population:
                                  • Median Home Price: $265,000
                                  • Monthly Mortgage Payment: $1,363.40
                                  • Salary Needed: $58,431

                                  Advertising

                                  Portland

                                    17. Portland

                                    Did you know that Portland is home to the most microbreweries in the world? The city is often compared to Austin because they have quite a bit in common (except the cost of living).

                                    For more than a century, Portland has been known as “The City of Roses”, due to their abundant amount of rose gardens (including the popular International Rose Test Garden).

                                    • State: Oregon
                                    • Estimated Population: 610,000
                                    • Median Home Price: $288,900
                                    • Monthly Mortgage Payment: $1,414.08
                                    • Salary Needed: $60,603

                                    Denver

                                      18. Denver

                                      The Mile-High city is exactly one mile above sea level, making it the one of the highest major cities in the United States. Forbes magazine ranks the city as one of the best cities for business and careers.

                                      • State: Colorado
                                      • Estimated Population: 665,000
                                      • Median Home Price: $314,800
                                      • Monthly Mortgage Payment: $1,438.32
                                      • Salary Needed: $61,642

                                      Seattle

                                        19. Seattle

                                        Seattle is the largest city in the Pacific Northwest and arguably the coffee capital of the West Coast. Currently, it is the only city that has passed a law to gradually increase the minimum wage, reaching $15/hr in 2 years for big businesses and 6 years for small businesses.

                                        • State: Washington
                                        • Estimated Population: 650,000
                                        • Median Home Price: $352,000
                                        • Monthly Mortgage Payment: $1,699.70
                                        • Salary Needed: $72,844

                                        Boston

                                          20. Boston

                                          Boston is the largest city in New England and one of the oldest cities in the country. The compact nature of the city makes it very walkable and is known for having the highest concentration of pedestrian commuters. The city is also famous for its native accent.

                                          • State: Massachusetts
                                          • Estimated Population: 650,000
                                          • Median Home Price: $383,200
                                          • Monthly Mortgage Payment: $1,867.83
                                          • Salary Needed: $80,049

                                          Featured photo credit: Ryan McGuire via gratisography.com

                                          More by this author

                                          Kallen Diggs

                                          Bestselling Author / Magazine Editor / Syndicated Radio Show Host

                                          3 Reasons Why Life is Better for Americans Abroad secret to free legal assistance The Entrepreneur’s Secret to Free Legal Assistance outsource The Foolproof Guide to Outsourcing, for Entrepreneurs healthy food For Busy People: How To Cook Healthy In Less Than 30 Minutes healthy food Better Than Medicine: 8 Foods To Boost Your Immune System

                                          Trending in Money

                                          1 50 Businesses You Can Start In Your Spare Time 2 The Average Retirement Savings and How to Save Wisely 3 7 Sell Your Stuff Apps That Will Get You Some Extra Cash in Hand 4 How to Invest for Retirement (The Smart and Stress-Free Way) 5 How to Nix Your Credit Card Debt in Less Than 3 Years

                                          Read Next

                                          Advertising
                                          Advertising
                                          Advertising

                                          Last Updated on June 20, 2019

                                          50 Businesses You Can Start In Your Spare Time

                                          50 Businesses You Can Start In Your Spare Time

                                          Most people want a few more dollars in their wallets. But between an employer and family, the time most of us can devote to a second job is severely limited. Running a small side business can provide a few more options: you don’t have to show up at a set time and you can use skills you already have. Not all will be perfect for everyone, of course, and I’m sure that you’ll have a few ideas of your own after reading this list. If you’d like to share any other business ideas, please add them in the comments.

                                          1. Selling collectibles — From antique books to teddy bears, there are plenty of opportunities to buy and sell collectibles. It’s important to familiarize yourself with the collectible of your choice but if you choose something that you’ve been collecting for a while, you’ve got a head start.
                                          2. Locating apartments — It can take time to sort through apartment listings, but you can make some money by finding the perfect apartment for a renter.
                                          3. Baby proofing — New parents often prefer to bring in an expert to make sure their home is safe for a new baby.
                                          4. Calligraphic writing — If you’ve got elegant handwriting, you can pick up gigs writing or addressing wedding invitations, holiday cards and more.
                                          5. Selling coupons — Search on eBay for coupons right now and you’ll see thousands of listings for coupons. It’s just a matter of clipping and listing what you find in your Sunday newspaper.
                                          6. Pet training — A surprising number of people don’t know where to start in training a pet. Even teaching Rover simple commands like ‘Sit’ and ‘Stay’ can bring in a few dollars.
                                          7. Running errands — A wide variety of people want to outsource their errands, from those folks who aren’t able to leave their homes easily to those who have a busy schedule.
                                          8. Researching family trees — Amateur genealogists often call in experts, especially to handle research that has to be done in person in a far off place. If you’re willing to go to a local church and copy a few records, you can handle many family tree research requests.
                                          9. Supplying firewood — The prerequisite for selling firewood is having a source of wood; if you’ve got some land where you can cut down a few trees, you’ve got a head start.
                                          10. Hauling — As more people trade in their SUVs for compact cars, hauling is becoming more important: people have to rent a truck or hire a hauler for even small loads.
                                          11. Image consulting — Image consultants provide a wide variety of services, ranging from offering advice on appearance to teaching etiquette.
                                          12. Menu planning — For many people, the trip up in eating home-cooked or healthy meals is knowing what to prepare. Meal planners set a schedule to solve certain dietary problems.
                                          13. Microfarming — Cultivating food and flowers on small plots of land allows you to sell produce easily.
                                          14. Offering notary public services — Notary publics can witness and authenticate documents: a service needed for all sorts of official documents.
                                          15. Teaching music — If you’re skilled with a musical instrument, you can earn money by offering lessons.
                                          16. Mystery shopping — Mystery shoppers check the conditions and service at a store and report back to the store’s higher-ups.
                                          17. Offering research services — Just by reading up on a topic and compiling a report on it can earn you money.
                                          18. Personal shopping — Personal shoppers typically select gifts, apparel and other products for clients, helping them save time.
                                          19. Pet breeding — Purebred pets can be quite value, especially if you can verify their pedigree.
                                          20. Removing snow — During the winter months, shoveling walks can still be a reliable way to earn money. You might be asked to take care of the driveway too.
                                          21. Utility auditing — As people become environmentally-concious, they want to know just how efficient their homes are. With some simple testing, you can tell them.
                                          22. Offering web hosting services — Providing server space can be lucrative, particularly if you can provide tech support to your clients.
                                          23. Cutting lawns — An old standby, cutting lawns and other landscaping services can provide a second income in the summer.
                                          24. Auctioning items on eBay — Want to get rid of all your old stuff? Stick it up on eBay and auction it off.
                                          25. Babysitting — Child care of all kinds, from babysitting to nannying, can offer constant opportunities.
                                          26. Freelance writing — If you’ve got the skills to write clearly, you can sell your pen for everything from blogs to advertising copy.
                                          27. Selling blog and website themes — Do a little designing on the side? Customers that don’t want to pay full price for a website will often pay for a template or theme.
                                          28. Offering computer help — Particularly with people new to computers, you can earn money by providing in-home computer help.
                                          29. Designing websites — It may require a little skilled effort, but designing websites remains a reliable source of income.
                                          30. Selling stock photography — For shutterbugs, an easy way to put a photography collection to work is to post it to a stock photography site.
                                          31. Freelance designing — Check with local businesses: you can provide brochures, business cards and other design work and get paid a good fee.
                                          32. Tutoring — Math and languages reamin the easiest subjects to find tutoring gigs for, but there is demand for other fields as well.
                                          33. Housesitting / petsitting — Stopping in to check on a house or pet can earn you some money, and maybe even a place to stay.
                                          34. Building niche websites — If you can put together a site on a very specific topic, you can put targeted ads on it and make money quickly.
                                          35. Translating — The variety of translating work available is huge: written word, on the spot and more is easy to find even on a part-time basis.
                                          36. Creating custom crafts — No matter what kind of crafts you make, there’s likely a market for it. Etsy remains one of the easiest places to sell crafts.
                                          37. Setting up a wi-fi hotspot — With a little bit of equipment, you can set up a wi-fi hotspot and charge your neighbors for the access they’ve been ‘borrowing.’
                                          38. Selling an e-book — You can write an e-book about almost anything and put it up for sale online.
                                          39. Affiliate marketing — If you’re willing to market other companies’ products, you can earn a cut of the sales.
                                          40. Renting out your spare room — From looking for a long-term roommate to listing your guest room on couch surfing sites, that spare room can make you money.
                                          41. Offering handy man services — Handling small household tasks can provide you with plenty of work, although you’ll probably be expected to have your own tools.
                                          42. Teaching an online class — Share your expertise through a website, an online seminar or variety of other methods.
                                          43. Building furniture — For those with the skill to create handmade furniture, selling their creations is often just a matter of advertising.
                                          44. Providing personal chef services — Personal chefs prepare meals ahead of time for customers, leaving their customers with a full freezer and no mess.
                                          45. Event planning — From planning corporate events to bar mitzvahs, an event planning business can require plenty of work and offer plenty of pay.
                                          46. Installing home safety products — Particularly as Baby Boomers age, people able to install handrails and other home safety products are in demand.
                                          47. Altering / tailoring — If your sewing skills are up to par, altering garments is coming back as people try to stretch more wear out of their clothing.
                                          48. Offering in-home beauty services — Hair cuts, makeup and other beauty services that can be performed at home have a growing demand.
                                          49. Business coaching — Helping others to establish and develop their businesses can provide many opportunities to earn money.
                                          50. Writing resumes — Writing resumes can provide a reliable income, especially if you can put a polish on a client’s credentials.

                                          There are plenty of offers that claim to provide you with the opportunity to make thousands of dollars a week. Unfortunately, none of these businesses will provide that sort of income, but they aren’t scams either. They were chosen because they all require a minimum investment to get started — some require nothing more than a flyer advertising your business. Even better, if you do enjoy any of these businesses, there is a potential with most of them to continue to expand — perhaps even to the point of going full time.

                                          Advertising

                                          Featured photo credit: Omar Prestwich via unsplash.com

                                          Advertising

                                          Advertising

                                          Read Next