The Definitive Guide to Buying Your First Home

15 U.S. cities where you can afford to buy a home if you earn $60,000 or less

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Twenty20

Although real estate is becoming increasingly unaffordable for the typical American, there are still places where its possible to become a homeowner on an average income.

CNBC Make It identified 15 cities where the qualifying income to purchase a home with a 10% or 20% down payment is an annual salary of $60,000 or less, based on data from the National Association of Realtors' Metropolitan Median Area Prices and Affordability index from the second quarter of 2019.

The data assumes a 4.1% mortgage rate for all areas and a monthly principal and interest payment limited to 25% of a resident's income.

Below, check out 15 cities where you can become a homeowner while earning $60,000 a year or less, ranked from lowest median home price to highest.

Cleveland, Ohio

  • Salary required with a 10% down payment: $35,612
  • Salary required with a 20% down payment: $31,655
  • Median home price: $169,000

St. Louis, Missouri

  • Salary required with a 10% down payment: $41,049
  • Salary required with a 20% down payment: $36,488
  • Median home price: $194,800

Lincoln, Nebraska

  • Salary required with a 10% down payment: $42,103
  • Salary required with a 20% down payment: $37,424
  • Median home price: $199,800
Lincoln, Nebraska
Denis Tangney Jr. | Getty Images

Baton Rouge, Louisiana

  • Salary required with a 10% down payment: $46,633
  • Salary required with a 20% down payment: $41,452
  • Median home price: $221,300

San Antonio, Texas

  • Salary required with a 10% down payment: $50,321
  • Salary required with a 20% down payment: $44,730
  • Median home price: $238,800

Atlanta, Georgia

  • Salary required with a 10% down payment: $50,510
  • Salary required with a 20% down payment: $44,898
  • Median home price: $239,700

Houston, Texas

  • Salary required with a 10% down payment: $52,554
  • Salary required with a 20% down payment: $46,715
  • Median home price: $249,400
Houston, Texas
Duy Do | Moment | Getty Images

Philadelphia, Pennsylvania

  • Salary required with a 10% down payment: $53,566
  • Salary required with a 20% down payment: $47,614
  • Median home price: $254,200

Jacksonville, Florida

  • Salary required with a 10% down payment: $53,734
  • Salary required with a 20% down payment: $47,764
  • Median home price: $255,000

Spokane, Washington

  • Salary required with a 10% down payment: $55,968
  • Salary required with a 20% down payment: $49,749
  • Median home price: $265,600

Charlotte, North Carolina

  • Salary required with a 10% down payment: $56,074
  • Salary required with a 20% down payment: $49,843
  • Median home price: $266,100
Charlotte, North Carolina, USA uptown cityscape at dusk.
Sean Pavone | iStock | Getty Images

Dallas, Texas

  • Salary required with a 10% down payment: $58,033
  • Salary required with a 20% down payment: $51,585
  • Median home price: $275,400

Nashville, Tennessee

  • Salary required with a 10% down payment: $58,328
  • Salary required with a 20% down payment: $51,847
  • Median home price: $276,800

Orlando, Florida

  • Salary required with a 10% down payment: $58,581
  • Salary required with a 20% down payment: $52,072
  • Median home price: $278,000

Milwaukee, Wisconsin

  • Salary required with a 10% down payment: $58,602
  • Salary required with a 20% down payment: $52,091
  • Median home price: $278,100

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