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You need to earn six figures to qualify to buy a home in San Jose, California.Sean O'Flaherty aka Seano1 atwal singh, Wikimedia Commons

In the final quarter of 2016, home prices in the US climbed past expectations as the housing supply reached record lows, according to the National Association of Realtors (NAR).

On average, 87% of the 150 housing markets tracked by NAR experienced rising home prices in 2016, up from an average of 75% in 2014. More than half of the markets (52%) now have a median sale price either at or above their previous record high.

"Buyer interest stayed elevated in most areas thanks to mortgage rates under 4% for most of the year and the creation of 1.7 million new jobs edging the job market closer to full employment," said Lawrence Yun, NAR chief economist. "At the same time, the inability for supply to catch up with this demand drove prices higher and continued to put a tight affordability squeeze on those trying to reach the market."

The group reports that while the national median family income rose to $70,831, increasing mortgage rates and home prices will affect Americans' ability to buy a home, specifically in the country's most expensive housing markets.

Using NAR's data on housing affordability, we gathered a list of the US metro areas where the minimum salary required to qualify for a mortgage, with 20% down, is the highest. NAR assumes a mortgage rate of 3.9% for all areas, with the monthly principle and interest payment limited to 25% of income.

For the US as a whole, the average qualifying income is $42,962 and the median home price is $232,200.

Notably, the salary needed to qualify in the top-five metro areas — four of which are located in California — exceeds $100,000.

Below, check out how much you need to earn to buy a home in the most expensive housing markets, and what the median home will cost you.

The following markets are based on metropolitan statistical areas, with the exception of Anaheim-Santa Ana-Irvine and Los Angeles-Long Beach-Glendale, which are metropolitan divisions.

23. Salt Lake City, Utah

23. Salt Lake City, Utah
f11photo/Shutterstock

Population: 1,170,266

Median home cost: $282,100

Salary needed to buy: $51,572

22. Austin-Round Rock, Texas

22. Austin-Round Rock, Texas
Lifted Up Aerial Photography/Shutterstock

Population: 2,000,860

Median home cost: $287,600

Salary needed to buy: $52,578

21. Burlington-South Burlington, Vermont

21. Burlington-South Burlington, Vermont
Erika J Mitchell/Shutterstock

Population: 214,363

Median home cost: $291,300

Salary needed to buy: $53,254

20. Reno, Nevada

20. Reno, Nevada
Andrew Zarivny/Shutterstock

Population: 450,890

Median home cost: $308,700

Salary needed to buy: $56,435

19. Miami-Fort Lauderdale-West Palm Beach, Florida

19. Miami-Fort Lauderdale-West Palm Beach, Florida
Richard Cavalleri/Shutterstock

Population: 6,012,331

Median home cost: $310,500

Salary needed to buy: $56,764

18. Riverside-San Bernardino-Ontario, California

18. Riverside-San Bernardino-Ontario, California
Shutterstock

Population: 4,489,159

Median home cost: $317,700

Salary needed to buy: $58,081

17. Sacramento-Roseville-Arden Arcade, California

17. Sacramento-Roseville-Arden Arcade, California
Andrew Zarivny/Shutterstock

Population: 2,274,194

Median home cost: 324,300

Salary needed to buy: $59,287

16. Portland-Vancouver-Hillsboro, Oregon/Washington

16. Portland-Vancouver-Hillsboro, Oregon/Washington
Josemaria Toscano/Shutterstock

Population: 2,389,228

Median home cost: $354,700

Salary needed to buy: $64,845

15. Bridgeport-Stamford-Norwalk, Connecticut

15. Bridgeport-Stamford-Norwalk, Connecticut
Kotsovolos Panagiotis/Shutterstock

Population: 948,053

Median home cost: $359,800

Salary needed to buy: $65,777

14. Barnstable Town, Massachusetts

14. Barnstable Town, Massachusetts
Re Avarez/flickr

Population: 214,333

Median home cost: $377,900

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Salary needed to buy: $69,086

13. Denver-Aurora-Lakewood, Colorado

13. Denver-Aurora-Lakewood, Colorado
Andrew Zarivny/Shutterstock

Population: 2,814,330

Median home cost: $381,600

Salary needed to buy: $69,763

12. New York-Newark-Jersey City, New York/New Jersey/Pennsylvania

12. New York-Newark-Jersey City, New York/New Jersey/Pennsylvania
mandritoiu/Shutterstock

Population: 20,182,305

Median home cost: $382,300

Salary needed to buy: $69,891

11. Washington-Arlington-Alexandria, Washington, DC/Virginia/Maryland

11. Washington-Arlington-Alexandria, Washington, DC/Virginia/Maryland
Flickr / m01229

Population: 6,097,684

Median home cost: $384,300

Salary needed to buy: $70,256

10. Naples-Immokalee-Marco Island, Florida

10. Naples-Immokalee-Marco Island, Florida
Stephen Orsillo/Shutterstock

Population: 357,305

Median home cost: $415,000

Salary needed to buy: $75,869

9. Boston-Cambridge-Newton, Massachusetts/New Hampshire

9. Boston-Cambridge-Newton, Massachusetts/New Hampshire
Marcio Jose Bastos Silva/Shutterstock

Population: 4,774,321

Median home cost: $417,400

Salary needed to buy: $76,307

8. Seattle-Tacoma-Bellevue, Washington

8. Seattle-Tacoma-Bellevue, Washington
kan_khampanya/Shutterstock

Population: 3,733,580

Median home cost: $423,300

Salary needed to buy: $77,386

7. Boulder, Colorado

7. Boulder, Colorado
Facebook/City of Boulder Colorado Government

Population: 319,372

Median home cost: $494,800

Salary needed to buy: $90,457

6. Los Angeles-Long Beach-Glendale, California

6. Los Angeles-Long Beach-Glendale, California
Shutterstock/Jon Bilous

Population: 10,170,292

Median home cost: $503,400

Salary needed to buy: $92,030

5. San Diego-Carlsbad, California

5. San Diego-Carlsbad, California
Sean Pavone/Shutterstock

Population: 3,299,521

Median home cost: $593,000

Salary needed to buy: $108,410

4. Urban Honolulu, Hawaii

4. Urban Honolulu, Hawaii
Fiona Lin/Shutterstock

Population: 998,714

Median home cost: $740,200

Salary needed to buy: $135,320

3. Anaheim-Santa Ana-Irvine, California

3. Anaheim-Santa Ana-Irvine, California
LagunaticPhoto/Shutterstock

Population: 3,169,776

Median home cost: $745,200

Salary needed to buy: $136,234

2. San Francisco-Oakland-Hayward, California

2. San Francisco-Oakland-Hayward, California
Benny Marty/Shutterstock

Population: 4,656,132

Median home cost: $837,500

Salary needed to buy: $153,108

1. San Jose-Sunnyvale-Santa Clara, California

1. San Jose-Sunnyvale-Santa Clara, California
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Sean O'Flaherty aka Seano1 atwal singh, Wikimedia Commons

Population: 1,976,836

Median home cost: $1,005,000

Salary needed to buy: $183,730