Does your paycheck give you enough purchasing power to buy Chicago home? That’s the question a new article from Realtor.com is seeking to answer for potential homebuyers across the nation. They examined median home prices in 27 metropolitan areas to determine what the minimum salary requirement would be for an interested buyer. In Chicago, the median home price was $229,300 for the third quarter of 2015. Assuming buyers put 20 percent down and secure a 30-year fixed mortgage with an average interest rate, the average monthly mortgage payment would be $1,432. To qualify, buyers would need to make at least $61,500.

To learn more about purchasing a Chicago home, read the entire article.

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