How much do you need to earn in different states to afford to buy a house

The owMuch website has created an infographic illustrating what the annual salary in each state should be if you are interested in buying an "average" home in that region. Edition Fatherly I'm sure the results will surprise you.

Photo: Shutterstock

Not surprisingly, the East and West Coasts have some of the most expensive homes in the United States. In California, you need to earn over $120 a year to buy an "average" home. Meanwhile, in Michigan, the cheapest, you need to earn only $000. In Hawaii, which tops the list, it will take $40 a year to buy a house, which averages over $000 there.

HowMuch collected the data by looking at real estate website Zillow. They then entered those prices into a mortgage calculator, created a map, and determined the monthly mortgage payments. Based on the assumption, buyers pay a down payment of 10%.

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They calculated the payroll, acting on the financial advisers' official recommendation that homebuyers should not buy a home worth more than 30% of their gross income.

While most of the map isn't particularly surprising, there were some surprises: The researchers found that buying a home in Pennsylvania is easier than in Wyoming, although homeowners in the west can purchase much more land.

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The researchers noted, among other things, that in each state there is a significant difference in the cost of home ownership depending on location. In Colorado, for example, the map shows that you need to earn over $100 a year to afford a house. This is largely due to the housing market in the Denver area, where the cost of living is much higher. The same goes for New York, where upstate homes are much more affordable than those in the city.

How much do you need to earn to buy a house:

• Idaho (ID) - $70
• Iowa (IA) - $44
• Alabama (AL) - $47
• Alaska (AK) - $67
• Arizona (AZ) - $67
• Arkansas (AR) - $41
• Wyoming (WY) - $58
• Washington (WA) - $87
• Vermont (VT) - $62
• Virginia (VA) - $71
• Wisconsin (WI) - $50
• Hawaii (HI) - $153
• Delaware (DE) - $67
• Georgia (GA) - $59
• West Virginia (WV) - $38
• Illinois (IL) - $53
• Indiana (IN) - $42
• California (CA) - $120
• Kansas (KS) - $43
• Kentucky (KY) - $44
• Colorado (CO) - $100
• Connecticut (CT) - $75
• Louisiana (LA) - $50
• Massachusetts (MA) - $101
• Minnesota (MN) - $64
• Mississippi (MS) - $44
• Missouri (MO) - $42
• Michigan (MI) - $40
• Montana (MT) – $75
• Maryland (MD) - $72
• Maine (ME) - $55
• Nebraska (NE) - $51
• Nevada (NV) - $73
• New Jersey (NJ) - $69
• New Mexico (NM) - $54
• New Hampshire (NH) - $68
• New York (NY) - $91
• Ohio (OH) - $38
• Oklahoma (OK) - $45
• District of Columbia (DC) - $138
• Oregon (OR) - $87
• Pennsylvania (PA) - $47
• Rhode Island (RI) - $69
• North Dakota (ND) - $56
• North Carolina (NC) - $63
• Tennessee (TN) - $55
• Texas (TX) - $66
• Florida (FL) - $70
• South Dakota (SD) - $55
• South Carolina (SC) - $58
• Utah (UT) - $83

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