SEATTLE — It is more affordable to shop for a median-priced home in New York City, Boston or any other major U.S. metro area outside of the state of California than it is in Seattle, according to new Redfin data.
Those looking to buy an average home in the Seattle area will need an annual income of at least $214,904, according to Redfin. That is the eighth-highest income needed for a median home, with the seven metro areas above Seattle all sitting within California.
New York and Boston are immediately behind Seattle on the list, with $197,734 and $194,188, respectively, required.
This is based on a Redfin analysis that compares median monthly mortgage payments in August 2023 and August 2022. A monthly mortgage payment is considered affordable if the homebuyer spends no more than 30% of their income on housing.
