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How Much Income Do You Need to Buy the Median-Priced Home in the Top Housing Markets?

Home prices throughout the U.S. seem to be the only thing rising faster than the summer heat.

That being said, home prices across the U.S. increased in the second quarter, but the pace is slowing, and homes are slowly starting to become more affordable.

Home prices rose 1.2% from the first quarter this year, and 5.6% from the second quarter last year, according to the Federal Housing Finance Agency House Price Index. 

In order to afford a median-priced home, the average American would need to make at least $51,000 a year, assuming the buyers are paying a 20% down-payment.

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