Here's How Much You Must Make To Buy A Chicago-Area Home

CHICAGO, IL — Chicago and its surrounding suburbs are one of the 25 most-expensive metro areas to buy a home in the country, a report released this month says. Chicagoans must make at least $62,731.35 to buy a home for the area's median sale price of $255,600, according to the website HSH.com, which tracks mortgage rates. That makes the Windy City and suburbs the 16th most-expensive place to buy a home in America.

Chicago is the most expensive metro area in the Midwest, while California cities San Jose, San Franciso, San Diego and Los Angeles require the country's highest salaries to cover mortgage payments, property taxes and homeowner's insurance.

In San Jose, the most expensive metro area with a median sale price of $1.165 million, you need to make at least $216,181.25 to be able to afford a home. In New York, with a median home price of $419,100, the required salary is $99,151.22.

In the Midwest, Milwaukee is more affordable than Chicago, with a median home price of $246,900 and a salary requirement of $56,927.00.

The most affordable metro area to buy a home? That would be the Pittsburgh area, with a median home price of $146,000, well below the national average of $254,000, and a salary requirement of $35,205.49. The national average required salary is $55,390.57.

Read HSH's full real estate report here.

(Lead image via City of Chicago)