In many major U.S. cities, it’s becoming more costly than ever to purchase a home.

“Over the past decade, home prices in almost all major U.S. cities have increased,” home investment company Unison points out in its newly released 2018 Home Affordability Report.

Large coastal cities have been hit the hardest. “Cities like San Francisco and Seattle have seen home price appreciation far outpace any historical precedent, growing as much as 10 percent year-over-year,” the report says.

To illustrate what it takes to become a homeowner in various locations across the country, Unison calculated the salary needed to afford to buy.

To determine the necessary salary, the report looked at median property values in each area, then calculated approximate monthly costs for different sized down payments. For the purpose of the study, Unison assumed a 4.625 percent mortgage interest rate on a 30-year fixed-rate mortgage, property taxes of 1.25 percent per year and home insurance cost of 0.4 percent per year on the value of the home.


PLEASE NOTE: The information being provided is strictly as a courtesy. When you access this link you are leaving our website and assume total responsibility for your use of the website you are linking to. We make no representation as to the completeness or accuracy of information provided at this website. Nor is the company liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third-party technologies, websites, information and programs made available through this website.