Here's a look at how much your household needs to earn now to afford a home in Australia's most popular cities, based on data from RateCity.com.au.
The site determined monthly mortgage payments by taking the average home cost in each city after laying down an annual deposit of 20%. It also applied the standard rule that your monthly mortgage payments should be less than 30% of your monthly income.
What you need to earn to buy a house with a 20% deposit and comfortably avoid mortgage stress:
In Sydney, a household would need to earn $186,592 per year to afford the median-priced home of $1,309,195. The monthly mortgage repayment would amount to $4,353.80.
To snap up a home in Melbourne, the household would have to take in $138,875 to afford a home worth $974,397, with a monthly mortgage of $3,240.41.
Canberra is a stretch for most Australians, with the average home costing $927,577, requiring a household income of $132,202 to avoid mortgage stress with a monthly repayment of $3,084.71.
Brisbane is more affordable, but with a median-priced home sitting at $632,999 a household would have to earn at least $90,217 to purchase a house there, with mortgage repayments coming in at $2,105.07 a month.
Adelaide's median house price is $599,706, making it obtainable for a household earning $85,472 a year with a $1,994.36 monthly mortgage repayment.
In Perth, the median house price came in at $578,612, requiring an income of $82,466 to pay for the $1,924.21 monthly mortgage.
Homes in Hobart cost around $601,567 on average, with an income of $85,738 needed to purchase a house there and pay off mortgage repayments of $2,000.55 a month.
Darwin is Australia's most affordable city, with a household income of $79,000 needed to buy the median-priced home of $554,295. The monthly mortgage repayment comes in at $1,843.34.
What you need to earn to buy a unit with a 20% deposit and comfortably avoid mortgage stress:
With house prices soaring in the big cities, a unit is one of the only realistic options for first-home buyers who don't have the backing of the bank of mum and dad or a six-figure salary.
In Sydney, the median unit price is $751,031, requiring a household income of $751,038 to avoid mortgage stress, based on a 20% deposit.
Melbourne's average unit price of $568,793 is attainable for a household earning $81,067 a year.
An average-priced unit in Canberra comes in at $473,304, requiring a $67,457 income to avoid mortgage stress.
Hobart households will need an income of $61,387 to cover the costs of a mortgage on the median priced unit priced at $430,716.
In Brisbane, a $56,812 household salary will allow you to purchase the average unit priced at $398,612.
In Perth, household's need to earn $52,940 a year to comfortably meet their monthly repayments without mortgage stress, for the median priced unit of $371,441 a year.
Adelaide is slightly more affordable, with its median unit price of $344,062 achievable for a household with an income of $49,037.
Darwin has the cheapest units in Australia, with the median price just $293,731, allowing a household earning $41,864 a year to purchase there.
How much do you need to earn to buy a house in Australia?
$1,000,000 home: Annual salary of $160,611
$800,000 home: Annual salary of $128,395
$700,000 home: Annual salary of $112,363
$600,000 home: Annual salary of $96,526
$500,000 home: Annual salary of $80,439
$400,000 home: Annual salary of $64,401
These figures indicate how much you need to be earning to pay off the cost of a home loan in Australia, assuming you've paid a 20% deposit.