Money

The income you need to afford a home in 15 of the largest U.S. cities

Home ownership is pricey, especially in a major city. Just how much money do you need to buy a house?

In a November 2016 report, HSH.com calculates the annual before-tax income required to afford the base cost of owning a home — the mortgage's principal, interest, tax, and insurance payments — in major metro areas. Note that the base cost does not include things like repairs and renovations.

To determine the required salary, the site uses median home prices from the National Association of Realtors and average interest rates for a 30-year fixed-rate mortgage.

The publisher of mortgage and consumer loan information also notes that "the required salary would change if you were to put 10 percent down instead of 20 percent. ... Things get more expensive when you cut the down payment in half." Read more about the methodology.

Continue on to see how much money you need to earn to afford a home in 15 of the largest U.S. cities. The cities are listed in ascending order of population.

Washington, DC

Median home price: $393,500

Monthly mortgage payment: $1,830

Salary needed to buy: $78,460

Washington, D.C.
Allen Baxter | Getty Images
Washington, D.C.

Denver, Colorado

Median home price: $386,800

Monthly mortgage payment: $1,650

Salary needed to buy: $70,740

Skyline of Denver, Colorado
Getty Images
Skyline of Denver, Colorado

Seattle, Washington

Median home price: $422,100

Monthly mortgage payment: $1,908

Salary needed to buy: $81,770

Seattle, Washington.
Michael Riffle | Getty Images
Seattle, Washington.

Boston, Massachusetts

Median home price: $435,300

Monthly mortgage payment: $2,007

Salary needed to buy: $86,050

A neighborhood in Boston, Mass.
Jorge Antonio | Getty Images
A neighborhood in Boston, Mass.

Detroit, Michigan

Median home price: $170,817

Monthly mortgage payment: $910.78

Salary needed to buy: $39,030

People stand outside of a home for sale in the East English Village neighborhood of Detroit.
Joshua Lott | Getty Images
People stand outside of a home for sale in the East English Village neighborhood of Detroit.

San Francisco, California

Median home price: $835,400

Monthly mortgage payment: $3,550

Salary needed to buy: $152,170

The San Francisco Bay Area attracts some of the nation's top technology talent.
Adam Jeffery | CNBC
The San Francisco Bay Area attracts some of the nation's top technology talent.

Dallas, Texas

Median home price: $230,500

Monthly mortgage payment: $1,255

Salary needed to buy: $53,820

Dallas, Texas skyline
Matt Nager | Bloomberg | Getty Images
Dallas, Texas skyline

San Diego, California

Median home price: $589,300

Monthly mortgage payment: $2,535

Salary needed to buy: $108,650

Getty Images

San Antonio, Texas

Median home price: $212,300

Monthly mortgage payment: $1,127

Salary needed to buy: $48,340

San Antonio, Texas
Richard Cummins | Getty Images
San Antonio, Texas

Phoenix, Arizona

Median home price: $235,300

Monthly mortgage payment: $1,029

Salary needed to buy: $44,130

Phoenix, Arizona skyline
photoquest7 | iStock / 360 | Getty Images
Phoenix, Arizona skyline

Philadelphia, Pennsylvania

Median home price: $234,800

Monthly mortgage payment: $1,239

Salary needed to buy: $53,110

Philadelphia skyline
Jerry Driendl | Getty Images

Houston, Texas

Median home price: $217,400

Monthly mortgage payment: $1,203

Salary needed to buy: $51,560

Houston, Texas
Jeremy Woodhouse | Getty Images
Houston, Texas

Chicago, Illinois

Median home price: $244,100

Monthly mortgage payment: $1,430

Salary needed to buy: $61,290

Chicago, Illinois
Matt Frankel | Getty Images
Chicago, Illinois

Los Angeles, California

Median home price: $536,700

Monthly mortgage payment: $2,336

Salary needed to buy: $100,150

Los-Angeles-California-Priciest-Cities-to-Rent-CNBC.jpg
CGIBackgrounds | Getty Images

New York, New York

Median home price: $397,600

Monthly mortgage payment: $1,994

Salary needed to buy: $85,490

New York, New York
Andrés Nieto Porras | Flickr Commons
New York, New York