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Atlanta housing among most affordable

houseforsaleweb9_304 How much salary do you need to earn to cover the principal and interest payments on the average Atlanta home?

About $24,400 for a house in Atlanta worth a median $142,400, according to online mortgage resource HSH.com. That equates to a $569.12 monthly payment.

“Over the long term, Atlanta home prices have seen a lot of improvement, but as is the case with most of the cities on the fourth-quarter list, recent trends have not been as kind,” HSH.com writes. “Current homebuyers in Atlanta aren’t complaining, however. With the largest quarterly rate spread of any metro on the list so far, buyers in Atlanta can make under $3,000 less and still afford the principal and interest payments on a median-priced home.”

Salary needed to buy a home in 25 major American cities:
1.Cleveland: $19,435.17
2.Cincinnati: $22,226.95
3.St. Louis: $22,397.54
4.Atlanta: $24,390.94
5.Tampa: $24,650.88
6.Orlando: $28,298.47
7.San Antonio: $29,305.47
8.Dallas: $29,751.24
9.Houston: $31,298.99
10.Chicago: $32,388.90
11.Phoenix: $32,811.94
12.Minneapolis: $33,800.09
13.Philadelphia: $36,836.47
14.Baltimore: $41,155.40
15.Sacramento: $42,832.20
16.Miami: $43,918.66
17.Portland, Ore.: $45,872.78
18.Denver: $48,122.72
19.Seattle: $59,129.86
20.Washington, D.C.: $62,809.63
21.Boston: $63,673.13
22.New York City: $66,167.27
23.Los Angeles: $72,126.90
24.San Diego: $81,570.40
25.San Francisco: $115,510.06

Source: Jacques Couret | Atlanta Business Chronicle

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