Annual salary needed to afford a median-priced home in San Antonio skyrockets to $87,000

<a href="https://media2.sacurrent.com/sacurrent/imager/u/original/30356154/screen_shot_2022-02-01_at_9.27.44_am.png" rel="contentImg_gal-30355833" title="The median income in the San Antonio-New Braunfels area for a family of four falls below the average annual salary in the study. – Pexels / RODNAE Productions" data-caption="The median income in the San Antonio-New Braunfels area for a family of four falls below the average annual salary in the study.   Pexels / RODNAE Productions” class=”uk-display-block uk-position-relative uk-visible-toggle”> click to enlarge

Pexels / RODNAE Productions

The median income in the San Antonio-New Braunfels area for a family of four falls below the average annual salary in the study.

The average annual salary needed to afford a home in San Antonio has now climbed to more than $87,000, according to a recent report.

A new analysis by online real estate firm Redfin found that those looking to buy a $325,000 house — San Antonio’s median home price in October — will need an earn at least $87,453 a year.

That’s more than the 2022 median income for a family of four in the San Antonio-New Braunfels metro area, which was just $83,500, according to the U.S. Department of Housing and Urban Development.

With a monthly mortgage payment of $2,186, the annual salary needed to afford the median San Antonio home price jumped 49.4% from 2021, Redfin also found.

Although San Antonio housing prices have escalated in recent years, buying a home here is still more affordable than the national average, according to Redfin’s report. Nationally, consumers need an annual income of $107,281 to buy a typical home.

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