{
  "id": 7237949,
  "title": "What sort of home can two average salaries buy in SA? It's more complicated than you think",
  "url": "https://urgent.news/2026/09/14/what-sort-of-home-can-two-average-salaries-buy-in-sa-its-more",
  "topic": "world",
  "section": "World",
  "published": "2026-09-14T03:50:00.000Z",
  "source": {
    "name": "IOL",
    "slug": "iol",
    "url": "https://iol.co.za/business/property/2026-09-14-what-sort-of-home-can-two-average-salaries-buy-in-sa-its-more-complicated-than-you-think/"
  },
  "original_language": "en",
  "account": "South Africans earning the average salary may seem on paper to be able to afford homes similar to the average purchase price, but qualifying for a bond and comfortably living within the budget are two different matters. The average South African salary is R21,642 per month, so two earners would have R43,284 to work with each month. Based on this income and a 30% repayment-to-income ratio, banks could allow for a home loan repayment of up to R15,000 per month. At a 10.5% prime lending rate and a 20-year loan, this would support a bond around R1.5 million, which is near the average purchase price for first-time buyers. In major cities like Johannesburg, this amount could secure a three-bedroom apartment, townhouse, or house, while in Durban, it could buy a larger property. However, this affordability comes with challenges. Homebuyers must factor in additional expenses like rates, taxes, utilities, groceries, transport, insurance, and medical costs, as well as potential deposits. The improved approval rates and rising house prices come with the caveat that real salaries remain lower than a year ago, and purchasing power is weaker. Despite some positive indicators, the journey to homeownership remains complex for many South Africans.",
  "summary": "Two average South African salaries could theoretically finance a R1.5 million home, but what the bank says a couple can afford and what they have left to live on are two very different numbers.",
  "key_points": [
    "Two average earners in SA have R43,284 monthly combined income",
    "Banks may allow R15,000 monthly home loan repayment at 10.5% rate",
    "Three-bedroom property in Johannesburg or larger in Durban affordable"
  ],
  "editors_take": "Two average salaries in South Africa can buy a home, but only just, as the apparent affordability is tempered by additional expenses and weaker purchasing power due to lower real salaries.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}