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The median income in the San Antonio-New Braunfels area for a family of four falls below the average annual salary in the study.
The average annual salary needed to afford a home in San Antonio has now climbed to more than $87,000, according to a recent report.
A new analysis by online real estate firm Redfin
found that those looking to buy a $325,000 house — San Antonio's median home price in October — will need an earn at least $87,453 a year.
That's more than the 2022 median income for a family of four in the San Antonio-New Braunfels metro area, which was just $83,500, according to the U.S. Department of Housing and Urban Development
With a monthly mortgage payment of $2,186, the annual salary needed to afford the median San Antonio home price jumped 49.4% from 2021, Redfin also found.
Although San Antonio housing prices have escalated in recent years, buying a home here is still more affordable than the national average, according to Redfin's report. Nationally, consumers need an annual income of $107,281 to buy a typical home.
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