How much money you need to earn to afford a home in 49 U.S. cities
A recent report highlights the income needed to afford homes in 49 major U.S. cities. While median household income has increased to about $88,000, it falls short of the estimated $116,780 required to purchase an average home. The disparity in home affordability remains a significant issue, particularly in high-cost areas like San Francisco and San Jose.
- ▪Median household income in the U.S. reached approximately $88,000 in April 2026.
- ▪To afford an average home, households need an annual income of $116,780, according to Redfin.
- ▪In San Francisco, individuals need to earn over $444,000 to afford a home, which is more than five times the median salary.
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MoneyWatch How much money you need to earn to afford a home in 49 U.S. cities .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Mary Cunningham Mary Cunningham Reporter, MoneyWatch Mary Cunningham is a reporter for CBS MoneyWatch. She previously worked at "60 Minutes," CBSNews.com and CBS News 24/7 as part of the CBS News Associate Program. Read Full Bio Mary Cunningham May 27, 2026 / 3:00 PM EDT / CBS News Add CBS News on Google Let's start with the good news: U.S. workers' pay is up roughly 4% this year, with median household income in April reaching roughly $88,000, according to government data.
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