Here's how much you need to make to afford a house in Seattle

Want to buy a house in Seattle? You better be making six figures.

A new study by online mortgage resource HSH.com examined the average cost of houses, mortgage rates, property tax and homeowners insurance to determine how much residents need to make to afford the median home price.

For Seattle, the salary required by their analysis is $105,367.89 if you can put down 20 percent on a $489,000 home. If you can only put down 10 percent, the required salary jumps to $122,484.17 thanks to the now-required private mortgage insurance, or PMI.

It's no secret that the real estate market has been cooling. Seattle has recently fallen out of the top three metro areas for highest price gains, according to a report from the S&P CoreLogic Case-Shiller home price index.

https://www.msn.com/en-us/money/realestate/heres-how-much-you-need-to-make-to-afford-a-house-in-seattle/ar-BBUaNXa