5 US states where you need to make about $100,000 to afford ‘the average home’

The income you need to afford a home in the biggest U.S. cities

The median U.S. home value is $210,200 but, in states like Hawaii, that number can rise considerably, putting home-ownership further out of reach. Financial website How Much used data from real-estate site Zillow to collect average home prices for every state to find the minimum income needed to afford a place there and found that, in some places, the income necessary is almost or over six figures.

How Much used a mortgage calculator to calculate monthly payments, which consist of the principal and the interest for an assumed home loan. "The interest rate we used varied from 4-to-5 percent in each state, depending on the market. The lower the interest rate, the lower the monthly payment. To keep things simple, we assumed buyers could contribute a 10 percent down payment."

Based on that data, here are the top five states where you need to make almost or over $100,000 a year to afford the average home:


Minimum annual income: $153,520
Average home value: $610,000


Minimum annual income: $120,120
Average home value: $499,900


Minimum annual income: $101,320
Average home value: $419,900

Location alone won't determine if your home is a great investment, but this will


Minimum annual income: $100,200
Average home value: $415,000

New York

Minimum annual income: $91,720
Average home value: $379,000

"Our map creates a quick snapshot of housing affordability across the United States," according to How Much. "There are several pockets in which only the upper-middle class and above can afford to own even the average home, most notably across the West and in the Northeast."

In fact, "there are only two states west of the Mississippi River where a worker with an annual salary under $40,000 can afford a midlevel home: Missouri and Oklahoma."

That doesn't mean housing is unaffordable in other places, though: "The best takeaway is that housing remains affordable in large swaths of the country," even though there are certain high-profile states where it could be tougher to find one.

If you're thinking of buying a home, check out these tips to get started.

Like this story? Like CNBC Make It on Facebook!

Don't miss: Here's how much it costs to buy a home in America's 10 hottest 'hipster' neighborhoods

Video by Mary Stevens and Andrea Kramar

How much more it costs to own vs. rent in your state