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
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 |