"Surprising Exclusion: New York City Not Among the 11 U.S. Cities Requiring Over $200,000 Income to Buy a Home"

A recent report by the National Association of Realtors reveals that in 11 U.S. cities, households need to earn over $200,000 annually to afford a median-priced home. The highest income requirement is in the San Jose area, where a household would need to earn $482,835. Other cities on the list include Anaheim, San Francisco, and Honolulu. These cities are large urban coastal hubs where homes tend to be more expensive. In contrast, smaller rust belt and rural cities have much cheaper homes, with some requiring a household income of less than $50,000.