How Does Portland's Housing Affordability Compare To Other Cities?

by | Jun 4, 2014 | Market Trends

Have you ever wondered how far your paycheck would spread in other cities around the nation?  Do you find yourself day dreaming about moving to a warmer climate or closer or further away from family?  Well in the chart below you will find a break down of just exactly what your paycheck will buy you in 27 major cities around the US.

Is Portland Affordable?

What I find interesting is that in Portland the median home is right on par with the average household income. Which means the average house hold income in the city is able to buy right at the median home price.   So where can the average income buy more home?  In the Mid-West.  Go figure!  Cold, flat & humid.  No Thanks ….. I’ll stick with beautiful Portland.

What Your Paycheck Will Buy In 27 Cities

How much do you need to earn in order to afford the principal and interest payments on a median-priced home in your metro area? HSH.com crunched the numbers.
Metro Area Median Home Price Average Income
Cleveland $102,100 $29,800
Pittsburgh $120,000 $30,200
St Louis $120,500 $31,300
Cincinnati $121,700 $31,900
Detroit $110,750 $32,300
Atlanta $141,900 $34,200
Tampa, Fla. $145,000 $36,400
Phoenix $194,300 $41,300
Orlando, Fla. $178,000 $43,200
San Antonio, Texas $169,300 $44,500
Minneapolis $188,200 $45,700
Dallas $174,800 $47,700
Houston $184,600 $49,000
Philadelphia $201,800 $50,500
Chicago $176,900 $52,900
Baltimore $224,500 $53,100
Sacramento, Calif. $255,800 $58,100
Miami $259,000 $59,700
Denver $288,400 $59,900
Portland, Ore. $271,900 $60,300
Seattle $339,900 $73,900
Washington D.C. $358,900 $78,500
Boston $363,200 $79,800
Los Angeles $406,200 $86,000
New York $388,900 $89,800
San Diego $483,000 $98,500
San Francisco $679,800 $137,100
Source: HSH.com
Note: Calculations based on median home prices as reported by the National Association of Realtors; mortgage rates from HSH.com data; average local property taxes from the Tax Foundation; and insurance costs from the Insurance Information Institute.