T
o buy a home in Massachusetts, buyers need one of the highest incomes in the country. According to Realtor.com's analysis, only Hawaii requires higher earnings for homebuyers. In 36 states, buying a median-priced home is challenging or impossible for households with median incomes.
The required income to purchase a home in Massachusetts is over $215,000 per year, making it the second-highest among all states. With a median home list price of more than $732,000, buyers face significant financial hurdles.
The top five states where buyers need the highest incomes are:
* Hawaii: $235,588
* Massachusetts: $215,696
* California: $210,557
* New York: $189,207
* Montana: $178,017
These states have some of the most expensive housing markets in the country, making it difficult for homebuyers to afford a median-priced home.
