The Latest: Oct 18, 2017

Buying a home can be crazy expensive, and for most first-time buyers, the hardest part is saving up a sizable down payment. You’ve no doubt heard that the traditional down payment should be 20% of the purchase price — any less, and you’ll likely have to pay private mortgage insurance (PMI) or get stuck with a higher long-term interest rate. And who’s got 20% of, say, $300,000 just kicking around in their bank account? However, that 20% figure isn’t set in stone.

In some expensive cities, it can feel like every dollar you earn goes straight toward housing. It turns out, it may not be your imagination. A new data visualization by HowMuch.net shows how many hours the average household in 98 U.S. cities would need to work each month just to afford the median mortgage payment in their city.