Income to Afford a $110,000 House

How much do you need to make to be able to afford a house that costs $110,000?
Purchase price
$
Down payment
$
Interest rate
%
Pct of income
for housing
%
Term of loan
Results
To afford a house that costs $110,000 with a down payment of $22,000, you'd need to earn $23,838 per year before tax.
The mortgage payment would be $556 / month.
Salary needed for 110,000 dollar mortgage.
Note: This calculator is for fixed-rate mortgages. Adjustable-rate mortgages, or ARMs, may allow you to acheive lower payments in the short term. However, with ARMs, your monthly payment may increase if interest rates rise.
Note: 28% is the standard percentage of pre-tax income to spend on housing.
What is the income needed to buy a $110,000 house?
Annual income needed by down payment and interest rate
5.00% 5.50% 6.00% 6.50% 7.00% 7.50%
0% down $25,307 $26,767 $28,265 $29,797 $31,364 $32,963
5% down $24,042 $25,429 $26,851 $28,308 $29,796 $31,315
10% down $22,777 $24,090 $25,438 $26,818 $28,228 $29,667
15% down $21,511 $22,752 $24,025 $25,328 $26,660 $28,019
20% down $20,246 $21,414 $22,612 $23,838 $25,091 $26,370
25% down $18,980 $20,075 $21,198 $22,348 $23,523 $24,722
30% down $17,715 $18,737 $19,785 $20,858 $21,955 $23,074
35% down $16,450 $17,399 $18,372 $19,368 $20,387 $21,426
40% down $15,184 $16,060 $16,959 $17,878 $18,819 $19,778
45% down $13,919 $14,722 $15,545 $16,389 $17,250 $18,130
50% down $12,654 $13,384 $14,132 $14,899 $15,682 $16,481
Average House Price by State
What's the median price for a home in all 50 states? Source: Zillow, June 2023
State Price
Hawaii $837,324
California $743,362
Massachusetts $587,875
Washington $577,353
Colorado $543,143
Utah $510,934
Oregon $498,558
New Jersey $484,467
New Hampshire $446,839
Montana $446,602
Idaho $442,820
New York $441,462
Rhode Island $432,888
Arizona $420,494
Nevada $416,340
Maryland $405,562
Florida $390,856
State Price
Maine $383,137
Vermont $380,266
Connecticut $374,599
Virginia $371,623
Delaware $370,405
Alaska $351,218
Wyoming $338,216
Minnesota $331,190
North Carolina $320,096
Georgia $318,919
Tennessee $311,628
Texas $303,971
South Dakota $296,109
New Mexico $292,822
South Carolina $288,816
Wisconsin $285,037
Pennsylvania $255,965
State Price
Nebraska $254,916
North Dakota $251,062
Illinois $250,542
Missouri $238,055
Michigan $235,361
Indiana $231,660
Alabama $223,246
Ohio $218,667
Kansas $215,642
Iowa $211,054
Kentucky $200,955
Louisiana $200,370
Arkansas $199,636
Oklahoma $198,936
Mississippi $172,654
West Virginia $155,773