How much do you need to make to buy a house in Houston?

HOUSTON - Homebuyers on average need to earn six figures to afford a typical home in the U.S., according to Redfin. However, the outlook is a little better for those looking to buy in Houston.

According to the real estate company, the nationwide average annual salary Americans need to buy a median-priced home rose 45.6% from a year ago to $107,281 this October.

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Their data shows that the median home price in the U.S. also rose from $378,837 in October 2021 to $398,687 in October of this year.

The data shows the average monthly mortgage payment rose from $1,842 to $2,682 in that same time frame.

For the analysis, the monthly mortgage payment was considered affordable if a homeowner was spending no more than 30% of their income on housing.

File photo. (Photo by BRENDAN SMIALOWSKI/AFP via Getty Images) (File photo. (Photo by BRENDAN SMIALOWSKI/AFP via Getty Images))

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In fact, Redfin’s analysis shows that homebuyers in at least 45 metro areas need to earn at least $100,000 a year to afford a median-priced home.

In Texas, that includes Dallas and Austin where you need to earn $113,016 and $128,354, respectively, to afford a median-priced home, according to their data.

However, there are some metro areas in Texas where you can afford to buy a house even in you earn less than $100,000 – including Houston.

According to Redfin, homebuyers in Houston need to earn $88,798 to afford a median-priced home, which was $330,000 in October. The required salary increased 49.7% from October 2021.

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Their data shows that the average monthly mortgage payment in Houston increased from $1,483 last October to $2,220 this October.

Of the other Texas metro areas included in the analysis, McAllen had the lowest required salary at $60,544. Homebuyers need to make at least $64,580 in El Paso and $87,453 in San Antonio.

Click here to see Redfin's full analysis.