An annual income of 151.46 million won is required... Purchasing a median-priced home in the U.S

HSH’s Q2 analysis found that buying a median-priced U.S. existing single-family home at $434,900 required a pre-tax annual income of $112,694.82, assuming a 20% down payment of $86,980 and a 30-year fixed mortgage at 6.41% on the remaining $347,920. The San Jose metro area had the highest income requirement among the 50 largest metros at $492,364.27. HSH calculated the required income so that principal, interest, property taxes and homeowners insurance would not exceed 28% of pre-tax monthly income, a affordability threshold rather than an average buyer salary or uniform lender approval standard. The figures highlight how elevated home prices and 6.41% mortgage rates are stretching household budgets in major U.S. metros.