Lifestyle
    Next Score View the next score

    Thinking of buying a home in Boston? Better make close to six figures

    A new analysis by mortgage research website HSH.com reveals that Boston area homebuyers will need to make approximately six figures to be able to afford a home.
    Joanne Rathe/ Globe Staff, file
    A new analysis by mortgage research website HSH.com reveals that Boston area homebuyers will need to make approximately six figures to be able to afford a home.

    The bad news? Once again, Boston finds itself near the top of a list of the country’s most expensive cities.

    You’ll need to make close to six figures to responsibly buy a home in Boston, according to a recent analysis.

    Mortgage research website HSH.com pegged the median home price in metropolitan Boston at $464,900 — nearly double the national median of $255,600.

    Advertisement

    Using second-quarter 2017 data from the National Association of Realtors — and taking into account the principal, interest, tax, and insurance payments required — the site determined that it would require a salary of $98,518.71 to afford a house here.

    Get The Weekender in your inbox:
    The Globe's top picks for what to see and do each weekend, in Boston and beyond.
    Thank you for signing up! Sign up for more newsletters here

    For comparison, the median home price in Orlando — which ranked as the least expensive of the 50 metropolitan areas analyzed — is $245,000, which would require an annual salary of $54,158.84.

    The analysis, which also culled data from Freddie Mac and the Mortgage Bankers Association of America, assumed a 20-percent down payment in making its calculations. Putting just 10 percent down on a house pushes the required salary in Boston to $114,102.23.

    If there is a silver living to this latest bit of (not all that unexpected) news, it’s that at least we’re not in California, a state that featured the four cities with the highest required salaries to buy a home, according to the list.

    San Jose checked in as the most expensive with a mind-boggling required salary of $221,363.63, followed by San Francisco ($181,341.49), San Diego ($116,875.11), and Los Angeles ($101,531.66).

    Advertisement

    New York ($99,136.79) was fifth, one spot ahead of Boston.

    Dugan Arnett can be reached at dugan.arnett@globe.com. Follow him on Twitter @duganarnett.