Are you seeking to purchase a house in San Jose or San Francisco? You will need to make $ 200,000 or extra – NBC Bay Space

It’s no surprise that property prices in the Bay Area are among the highest in the country – and a new report shows how it is getting even harder to afford a home in San Jose and San Francisco.

A report by HSH.com lists the salary you need to earn to buy a home in the 50 largest cities in the United States. San Jose tops the list, followed by San Francisco.

San Jose is now the most expensive region in the country when it comes to housing. The average price is now $ 1.25 million. To buy a house at average price, your salary must be $ 255,000 per year. A typical San Jose family makes less than half of that.

Here’s how HSH breaks it open:

Mortgage Interest: 4.98 percent

• Quarterly change: +0.17 percent

Home price: $ 1,250,000

• Quarterly change: -3.85 percent

• Change compared to the previous year: -1.57 percent

Monthly payment: $ 5,946.17

Salary: $ 254,835.73

• Quarterly Change: – $ 2,041.77

• Change compared to the previous year: +0.08 percent

If homebuyers on the San Jose subway drop 10 percent instead of 20 percent, the required salary increases from $ 254,835.73 to $ 294,778.59.

And things don’t look much better in San Francisco, about an hour’s drive north of San Jose, where the average price for a home is now $ 952,200. If you want to buy a home in the City by the Bay, you need to make nearly $ 200,000.

Here’s how HSH breaks it open:

Mortgage Interest: 4.98 percent

• Quarterly change: +0.17 percent

Home price: $ 952,200

• Quarterly change: -3.72 percent

• Change compared to the previous year: +3.5 percent

Monthly payment: $ 4,642.82

Salary: $ 198,978.01

• Quarterly Change: – $ 1,047.84

• Change compared to the previous year: +0.13 percent

If homebuyers on the San Francisco subway drop 10 percent instead of 20 percent, the required salary increases from $ 198,978.01 to $ 229,404.88.

Last year, a similar report found that it took an annual salary of $ 220,000 to buy an average home in the San Francisco Bay Area.

San Diego is next on the list, followed by LA, Boston, and New York City.

Compared to all these expensive cities, Pittsburgh could buy a house for the average salary of $ 37,660. The price for an average house in the steel city? $ 141,625.

To find out how HSH came up with the salary numbers, click here.

San Jose is now the most expensive region in the country when it comes to housing. The average price is now $ 1.25 million.

To buy a house at average price, your salary must be $ 255,000 / year.

A typical family here makes less than half of that.

Source: @HSHassociates – Scott Budman (@ Scottbudman) February 26, 2019

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