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    Money Money Money

    Here's the annual salary required to buy a median-priced home in Dallas

    Elizabeth Rhodes
    Mar 15, 2015 | 10:45 am

    How much do you need to earn to afford a median-priced home in Dallas? Mortgage tracking site HSH.com found out. Researchers calculated the annual before-tax income required to cover a median-priced home's mortgage principal, interest, tax and insurance payments in 27 major U.S. cities, including three in Texas.

     

    HSH.com based estimates on the National Association of Realtors' fourth-quarter data for median home prices and used its own data on average interest rates for 30-year, fixed-rate mortgages and a 20 percent down payment (although the author notes it's possible to buy a home with a down payment below 20 percent).

     
     

      In Dallas, the annual income needed to afford a median-priced home is $48,786.53, making it the 12th most expensive out of the 27 cities on the list.

     

     

    In Dallas, the annual income needed to afford a median-priced home is $48,786.53, making it the 12th most expensive out of the 27 cities on the list. With that salary, homebuyers can afford a $189,600 home with an average monthly payment of $1,138.35.

     

     Houston remains the most expensive Texas metro: To afford a home priced at $199,300, with a monthly payment of $1,166.28, Houstonians need an annual salary of $49,983.37.

     

    In contrast, San Antonio is the most affordable. Payments fall just above the $1,000 mark, and the necessary annual income to afford the median-priced home — $185,000 — is $45,374.30.

     

    You might assume that New York City is No. 1, but that honor goes to San Francisco. The median price for a home there is a whopping $742,900, which requires a salary of at least $142,448.33 to make the necessary monthly payments of $3,323.79.

     

     New York City actually came in at No. 4, with a median home price of $390,000 and a salary of at least $87,535.60 to afford it. San Diego and Los Angeles fill the gap between San Francisco and New York.

     

    The study also identified several emerging trends in real estate.

     

    "Home prices in metro areas throughout the country continue to show solid price growth, up 25 percent over the past three years on average," said Lawrence Yun, chief economist for the National Association of Realtors. "Low interest rates helped preserve affordability last quarter, but it'll take stronger income gains and more housing supply to help meet the pent-up demand for buying."

     

    In terms of homes nationwide, which are down in cost by 20 percent, a buyer would need an annual salary of $48,603.82 to purchase the median-priced American home.

    Mortgage tracking site HSH.com released a study detailing the salary needed to afford a home in 27 U.S. metros.

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    Mortgage tracking site HSH.com released a study detailing the salary needed to afford a home in 27 U.S. metros.
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    Renovation news

    Dallas Arts Tower downtown to get a re-do and new all-day cafe

    Teresa Gubbins
    Jul 10, 2025 | 5:25 pm
    Dallas Arts Tower
    Williams New York
    Dallas Arts Tower

    A downtown Dallas building is receiving a big-dollar renovation: Fortis Property Group has broken ground on a re-do at Dallas Arts Tower, a 55-story office building at 2200 Ross Ave. in the Dallas Arts District that will include updates, valet service, and a new cafe.

    According to a release, the multi-million-dollar capital improvement project broke ground in late June, and consists of modernizing building components. Renovations include:

    • transformation of the main lobby, with new flooring, lighting, furniture, upgraded elevator lobbies, and interiors
    • new all-day café in the northwest corner of the lobby, offering breakfast, lunch, craft coffee, and bar service during happy hour, with indoor and outdoor seating
    • new elevator interiors throughout the tower
    • enhancement of a second-floor mezzanine lounge area with updated flooring, lighting, and furnishings

    On the exterior, a new LED lighting package will be installed to enhance the building’s nighttime presence.

    Valet parking service will also be introduced in the building’s motor court, as part of the project.

    Fortis Property Group Chief Investment Officer Terrence Storey says that the renovations "reflect our vision to offer an elevated, amenity-rich environment in one of Dallas’ most vibrant and walkable neighborhoods."

    Stream has served as the exclusive leasing agent for Dallas Arts Tower since 2016, and Executive VP & Partner J.J. Leonard says that the renovation plans have already "sparked tremendous interest" resulting in new leases signed or in progress.

    The current renovation follows a 2019 capital improvement plan that introduced a redesigned front plaza, an 8,000-square-foot fitness center, a 150-seat conference facility, and a reimagined Sky Lobby on the 40th floor with conference rooms, executive boardroom, and lounge areas.

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