ST. LOUIS – The average price of homes is on the rise across the country, and another number that’s increasing is the income needed to make that purchase.
A recent report form Realtor.com states that in 2025, Americans are needing to earn over 70% more of what they needed in 2019 to purchase an average-priced home.
St. Louis was ranked in the top 50 metro areas with the highest average-priced homes and the highest number for the income needed. According to Realtor.com, the average price for the area this year is $294,900—which corresponds to needing an income of $77,955.
Six years ago, the necessary income was 62.9% lower than it is today in the St. Louis Metro, the report said.
Some of the metro areas with the highest required income to afford a median-priced home included:
- San Jose: $370,069
- Los Angeles: $315,892
- Seattle: $206,777
- Boston: $232,095
- Denver: $158,462
- Washington, D.C.: $164,682
Realtor.com attributed the widening gap of prices to rapid home price appreciation and elevated mortgage rates.
The list to follow St. Louis in terms of slightly more affordable homes is limited, but includes:
- Pittsburgh: $243,724
- Detroit: $253,575
- Cleveland: $267,450
- Buffalo: $280,000
To view the full report from Realtor.com, click here.