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Report: $52K salary needed to buy, maintain home in Phoenix

(AP Photo/John Bazemore)

PHOENIX — looked into the average home value, deposit, non-housing expenditure, non-mortgage debt, interest rate and required salary in select cities across the country to find out how much money someone must earn in order to buy a house and live comfortably.

Phoenix ranked 39th with a required salary of $52,922. As for home value, Phoenix ranked 25th with an average value of $184,900.

The study has many different factors under consideration for “living comfortably” including median house prices, the ability to cover average per-person expenditure and average 30-year 20 percent deposit interest rate in the state.

San Francisco is far and away the leader in terms of a required salary, checking in at a staggering $180,600. The lowest required salary out of the select cities is Jackson, Miss., at only $43,265.

California has four cities in the top 10 of the most expensive cities that took place in the study.

Phoenix’s $27,464 of non-housing expenditures is 59th on the list.

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