How much you need to earn in every state to afford a house

Thanks to elevated mortgage rates and a housing shortage, homebuying is more expensive than ever.

In fact, you’d need to earn six figures to afford a median-priced home in all but 15 states, according to a new report from real estate platform Realtor.com.

The site’s affordability analysis also revealed that, in nearly half the country, an average four-person household doesn’t bring home enough to afford monthly mortgage payments on a median-priced three-bedroom house.

Realtor.com based its figures using a 6.65% mortgage rate on a 30-year fixed loan with a 10% down payment. Analysts factored in property taxes and homeowners’ insurance and assumed no more than 30% of a household’s income would go toward housing costs. (Income levels were based on data from the U.S. Census.)

Our youngest state is also the priciest: the median cost for a three-bedroom home in Hawaii is $796,946, which, according to Realtor.com, requires a salary of $229,341.

That’s over 40% more than the average household makes in the Aloha State.

On the other end of the spectrum, a three-bedroom house in Ohio averages $259,450 and requires an annual income of just $74,663 — far below the Buckeye State’s median household income of $113,453.

In each of the five least affordable states, you’d need to make at least 140% of the median income to afford a house big enough for two adults and two kids.

1. Hawaii

Median home price: $796,947
Median household income: $133,656
Income needed for homebuying: $229,341

2. California

Median home price: $728,500
Median household income: $128,533
Income needed for homebuying: $209,643

3. Montana

Median home price: $613,375.
Median household income: $111,516
Income needed for homebuying: $176,513

4. Idaho

Median home price: $566,950
Median household income: $106,407
Income needed for homebuying: $163,153

5. New York

Median home price: $659,974
Median household income: $131,389
Income needed for homebuying: $189,923

In the five most affordable states, the median household income is 1.5 times what you need to make to afford a three-bedroom property.

“Affordable housing in these states means that families can spend a bit more on other necessities or can save more,” Realtor.com senior economic research analyst Hannah Jones said in the report.

1. Ohio

Median home price: $259,450
Median household income: $113,435
Income needed for homebuying: $74,663

2. Michigan

Median home price: $265,350
Median household income: $114,456
Income needed for homebuying: $76,361

3. Illinois

Median home price: $289,950
Median household income: $125,022
Income needed for homebuying: $83,440

4. Iowa

Median home price: $279,950
Median household income: $120,308
Income needed for homebuying: $80,562

5. Pennsylvania

Median home price: $296,750
Median household income: $125,861
Income needed for homebuying: $85,397

To determine how affordable homebuying is in your state, compare the median income with the salary Realtor.com says is required to afford a house. The bigger the gulf between those two figures, the less affordable homes are.

Here’s the income needed to buy a median-priced property in every state, from highest to lowest.

1. Hawaii

• Median home price: $796,947
• Income needed for homebuying: $229,341
• Median household income: $133,656

2. Massachusetts

• Median home price: $699,000
• Income needed for homebuying: $215,816
• Median household income: $161,149

3. California

• Median home price: $695,000
• Income needed for homebuying: $209,643
• Median household income: $128,533

4. New York

• Median home price: $625,000
• Income needed for homebuying: $189,923
• Median household income: $131,389

5. Montana

• Median home price: $595,000
• Income needed for homebuying: $176,513
• Median household income: $111,516

6. Washington

• Median home price: $591,445
• Income needed for homebuying: $174,700
• Median household income: $139,828

7. Utah

• Median home price: $481,900
• Income needed for homebuying: $168,693
• Median household income: $120,187

8. New Hampshire

• Median home price: $582,450
• Income needed for homebuying: $165,456
• Median household income: $153,749

9. Idaho

• Median home price: $517,990
• Income needed for homebuying: $163,153
• Median household income: $106,407

10. Colorado

• Median home price: $538,000
• Income needed for homebuying: $161,002
• Median household income: $135,820

11. Oregon

• Median home price: $540,000
• Income needed for homebuying: $158,276
• Median household income: $119,432

12. New Jersey

• Median home price: $501,795
• Income needed for homebuying: $156,822
• Median household income: $157,404

13. Rhode Island

• Median home price: $525,000
• Income needed for homebuying: $151,067
• Median household income: $138,933

14. Connecticut

• Median home price: $457,450
• Income needed for homebuying: $143,729
• Median household income: $149,181

15. Vermont

• Median home price: $479,000
• Income needed for homebuying: $143,168
• Median household income: $132,356

16. Arizona

• Median home price: $465,000
• Income needed for homebuying: $140,578
• Median household income: $107,944

17. Nevada

• Median home price: $460,000
• Income needed for homebuying: 139,742
• Median household income: $99,819

18. Delaware

• Median home price: $440,000
• Income needed for homebuying: $137,986
• Median household income: $128,053

19. Wyoming

• Median home price: $427,000
• Income needed for homebuying: $132,297
• Median household income: $113,060

20. Maine

• Median home price: $475,000
• Income needed for homebuying: $129,340
• Median household income: $114,591

21. Florida

• Median home price: $449,500
• Income needed for homebuying: $125,182
• Median household income: $104,069

22. Alaska

• Median home price: $424,900
• Income needed for homebuying: $121,585
• Median household income: $131,159

23. Virginia

• Median home price: $375,000
• Income needed for homebuying:  $121,534
• Median household income: $139,667

24. Tennessee

• Median home price: $379,500
• Income needed for homebuying: $120,855
• Median household income: $99,689

25. Maryland

• Median home price: $385,000
• Income needed for homebuying: $117,505
• Median household income: $151,138

26. North Carolina

• Median home price: $369,500
• Income needed for homebuying: $114,951
• Median household income: $109,590

27. New Mexico

• Median home price: $369,500
• Income needed for homebuying: $112,146
• Median household income: $83,592

28. Minnesota

• Median home price: $369,900
• Income needed for homebuying: $109,627
• Median household income: $141,903

29. Georgia

• Median home price: $324,000
• Income needed for homebuying: $109,354
• Median household income: $112,675

30. Wisconsin

• Median home price: $375,000
• Income needed for homebuying: $109,196
• Median household income: $122,571

31. South Dakota

• Median home price: $350,600
• Income needed for homebuying: $107,196
• Median household income: $113,008

32. North Dakota

• Median home price: $334,300
• Income needed for homebuying: $104,550
• Median household income: $122,543

33. Texas

• Median home price: $315,000
• Income needed for homebuying: $102,160
• Median household income: $108,866

34. South Carolina

• Median home price: $325,000
• Income needed for homebuying: $101,426
• Median household income: $102,244

35. Nebraska

• Median home price: $309,900
• Income needed for homebuying: $99,836
• Median household income: $121,455

36. Alabama

• Median home price: $269,000
• Income needed for homebuying: $92,583
• Median household income: $94,373

37. Kentucky

• Median home price: $284,900
• Income needed for homebuying: $86,044
• Median household income: $102,067

38. Pennsylvania

• Median home price: $275,000
• Income needed for homebuying: $85,397
• Median household income: $125,861

39. Oklahoma

• Median home price: $260,000
• Income needed for homebuying: $84,892
• Median household income: $91,528

40. Illinois

• Median home price: $285,000
• Income needed for homebuying: $83,440
• Median household income: $125,022

41. Arkansas

• Median home price: $259,000
• Income needed for homebuying: $83,440
• Median household income: $90,146

42. Mississippi

• Median home price: $241,000
• Income needed for homebuying: $83,426
• Median household income: $84,767

43. Missouri

• Median home price: $279,900
• Income needed for homebuying: $83,167
• Median household income: $105,914

44. Kansas

• Median home price: $244,975
• Income needed for homebuying: $80,662
• Median household income: $111,192

45. Iowa

• Median home price: $264,900
• Income needed for homebuying: $80,562
• Median household income: $120,308

46. Indiana

• Median home price: $269,900
• Income needed for homebuying: $80,418
• Median household income: $105,581

47. Louisiana

• Median home price: $248,050
• Income needed for homebuying: $79,138
• Median household income: $97,149

48. Michigan

• Median home price: $249,900
• Income needed for homebuying: $76,361
• Median household income: $161,149

49. Ohio

• Median home price: $245,000
• Income needed for homebuying: $74,663
• Median household income: $113,435

50. West Virginia

• Median home price: $245,000
• Income needed for homebuying: $71,080
• Median household income: $90,164

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