Income to Afford a $260,000 House

How much do you need to make to be able to afford a house that costs $260,000?
Purchase price
$
Down payment
$
Interest rate
%
Pct of income
for housing
%
Term of loan
Results
To afford a house that costs $260,000 with a down payment of $52,000, you'd need to earn $56,344 per year before tax.
The mortgage payment would be $1,315 / month.
Salary needed for 260,000 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 $260,000 house?
Annual income needed by down payment and interest rate
5.00% 5.50% 6.00% 6.50% 7.00% 7.50%
0% down $59,817 $63,268 $66,807 $70,430 $74,134 $77,912
5% down $56,826 $60,105 $63,467 $66,909 $70,427 $74,017
10% down $53,836 $56,941 $60,126 $63,387 $66,720 $70,121
15% down $50,845 $53,778 $56,786 $59,866 $63,014 $66,226
20% down $47,854 $50,614 $53,446 $56,344 $59,307 $62,330
25% down $44,863 $47,451 $50,105 $52,823 $55,600 $58,434
30% down $41,872 $44,288 $46,765 $49,301 $51,894 $54,539
35% down $38,881 $41,124 $43,425 $45,780 $48,187 $50,643
40% down $35,890 $37,961 $40,084 $42,258 $44,480 $46,747
45% down $32,899 $34,797 $36,744 $38,737 $40,774 $42,852
50% down $29,909 $31,634 $33,404 $35,215 $37,067 $38,956
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