Income to Afford a $230,000 House

How much do you need to make to be able to afford a house that costs $230,000?
Purchase price
$
Down payment
$
Interest rate
%
Pct of income
for housing
%
Term of loan
Results
To afford a house that costs $230,000 with a down payment of $46,000, you'd need to earn $49,843 per year before tax.
The mortgage payment would be $1,163 / month.
Salary needed for 230,000 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 $230,000 house?
Annual income needed by down payment and interest rate
5.00% 5.50% 6.00% 6.50% 7.00% 7.50%
0% down $52,915 $55,968 $59,099 $62,304 $65,580 $68,923
5% down $50,270 $53,169 $56,144 $59,189 $62,301 $65,476
10% down $47,624 $50,371 $53,189 $56,073 $59,022 $62,030
15% down $44,978 $47,573 $50,234 $52,958 $55,743 $58,584
20% down $42,332 $44,774 $47,279 $49,843 $52,464 $55,138
25% down $39,686 $41,976 $44,324 $46,728 $49,185 $51,692
30% down $37,041 $39,177 $41,369 $43,613 $45,906 $48,246
35% down $34,395 $36,379 $38,414 $40,498 $42,627 $44,800
40% down $31,749 $33,581 $35,459 $37,382 $39,348 $41,354
45% down $29,103 $30,782 $32,504 $34,267 $36,069 $37,907
50% down $26,458 $27,984 $29,549 $31,152 $32,790 $34,461
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