Minimum Salary to Buy Home Under $100K in 50 States

A recent GOBankingRates study has revealed that to achieve a comfortable lifestyle and the American dream, Americans need to earn at least $102,000 annually across the 50 largest U.S. cities. This figure highlights the growing perception that six-figure salaries are essential for financial stability. In contrast, prospective homeowners in the UK need an annual income of £53,600 to afford the average home, with significant salary shortfalls particularly evident in London. The rising housing prices in the U.S., with average home values around $350,091, have led to frustrations among would-be buyers, though GOBankingRates found that 42 states still offer homeownership possibilities for those earning under $100,000. The analysis emphasizes the disparities in home affordability based on local income levels and housing costs, prompting many to consider relocation for better options. These findings reflect a broader trend of increasing financial pressures on potential homeowners in both the U.S. and the UK.