This is the salary you need to earn to buy an ‘average’ house in Atlanta

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A recent report from HSH lays out how much you should earn for an Atlanta house. It recommends $40,725.36 in salary per year. The mortgage site used data from the National Association of Realtors. The average Atlanta home costs $182,800.

Buying a home is no small feat. In fact, there are many components to consider before making the big purchase, including your salary. So how much do you need to make to snag a house in Atlanta?

However, it increases to $47,006.77 if ATL homebuyers put 10 percent down instead of 20.

To determine the findings, the mortgage site used data from the 2017 first-quarter mortgage period and the median sale home prices listed by the National Association of Realtors. It also factored in interest rates, property taxes and insurance costs to calculate how much it would cost to buy a median-priced home in 27 metro areas.

For Atlanta, the average home cost $182,800, and the average monthly payment is $950.26. That’s about a nine percent year-over-year increase.

The required salary needed to buy a home also saw a year-over-year rise. It’s up by more than 10 percent.

»RELATED: This is how Atlanta’s housing agency for the poor might help the rich instead

Want to know what it is for other cities? Take a look at the map of findings below.

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