What is the Annual Income Needed to Own a House?

Retail spaceAccording to a New Jersey mortgage company, potential homeowners in Houston, Dallas and San Antonio have an advantage versus Austin house buyers. This is based on their calculation on household’s annual income.
HSH.com came up with the data of how much a household would need to own a house in various cities in the United States. Based on their calculation, an annual income of less than $50,000 can still be enough to own a home in Houston, Dallas and San Antonio.

Austin has an average household income of $55,000, but that seems impossible for the housing prices in the area.

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