It's always been known that San Diego has among the least affordable homes in the nation. But a new study by hsh.com, a mortgage research firm, breaks new ground. It lists the salary required to buy a median-priced home in 25 metro areas.
Only San Francisco, at $115,510, is higher than San Diego's $81,570. The study assumes that the median San Diego home price is $476,790, the mortgage rate 4.37 percent, and monthly payment $1,903.31.
The cheapest metro area is Cleveland, at $19,435, and second cheapest, Cincinnati, at $22,227. (For some reason, Detroit is not on the list.) Los Angeles, New York City, Boston, and Washington DC are all less expensive than San Diego.
It's always been known that San Diego has among the least affordable homes in the nation. But a new study by hsh.com, a mortgage research firm, breaks new ground. It lists the salary required to buy a median-priced home in 25 metro areas.
Only San Francisco, at $115,510, is higher than San Diego's $81,570. The study assumes that the median San Diego home price is $476,790, the mortgage rate 4.37 percent, and monthly payment $1,903.31.
The cheapest metro area is Cleveland, at $19,435, and second cheapest, Cincinnati, at $22,227. (For some reason, Detroit is not on the list.) Los Angeles, New York City, Boston, and Washington DC are all less expensive than San Diego.
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