Income to Afford a $270,000 House
How much do you need to make to be able to afford a house that costs $270,000?
Purchase price
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Down payment
$
Interest rate
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Pct of income
for housing
for housing
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Term of loan
Results
To afford a house that costs $270,000 with a down payment of $54,000, you'd need to earn $58,511 per year before tax.
The mortgage payment would be $1,365 / month.
Salary needed for 270,000 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 $270,000 house?
Annual income needed by down payment and interest rate
5.00% | 5.50% | 6.00% | 6.50% | 7.00% | 7.50% | |
---|---|---|---|---|---|---|
0% down | $62,118 | $65,701 | $69,377 | $73,139 | $76,985 | $80,909 |
5% down | $59,012 | $62,416 | $65,908 | $69,482 | $73,136 | $76,864 |
10% down | $55,906 | $59,131 | $62,439 | $65,825 | $69,287 | $72,818 |
15% down | $52,800 | $55,846 | $58,970 | $62,168 | $65,437 | $68,773 |
20% down | $49,694 | $52,561 | $55,501 | $58,511 | $61,588 | $64,727 |
25% down | $46,588 | $49,276 | $52,032 | $54,854 | $57,739 | $60,682 |
30% down | $43,483 | $45,991 | $48,564 | $51,198 | $53,890 | $56,636 |
35% down | $40,377 | $42,706 | $45,095 | $47,541 | $50,040 | $52,591 |
40% down | $37,271 | $39,421 | $41,626 | $43,884 | $46,191 | $48,545 |
45% down | $34,165 | $36,136 | $38,157 | $40,227 | $42,342 | $44,500 |
50% down | $31,059 | $32,851 | $34,688 | $36,570 | $38,493 | $40,455 |
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 |