Buy a house in SF? You need to make $184,442

SmartAsset

From Housingwire:

Throw in the latest rise in home prices, and potential buyers on a budget are even more pressed for choices. With that in mind, the latest study from SmartAsset factors in budgeting costs and location to find the salary required to make home payments across the country.

The report arrived at its figures while assuming a home buyer would get a 30-year mortgage with a 4% interest rate for 80% of the home value (after paying a 20% down payment). The study also assumed the person would have an annual homeowners insurance of 0.35%...

No. 1 on the list is San Francisco, where the median home value is $1,195,700. Here, SmartAsset says that homeowners need a salary of $184,442, and no additional non-mortgage debt in order to afford a home...