Income to Afford a $670,000 House
How much do you need to make to be able to afford a house that costs $670,000?
Purchase price
$
Down payment
$
Interest rate
%
Pct of income
for housing
for housing
%
Term of loan
Results
To afford a house that costs $670,000 with a down payment of $134,000, you'd need to earn $145,195 per year before tax.
The mortgage payment would be $3,388 / month.
Salary needed for 670,000 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 $670,000 house?
Annual income needed by down payment and interest rate
5.00% | 5.50% | 6.00% | 6.50% | 7.00% | 7.50% | |
---|---|---|---|---|---|---|
0% down | $154,144 | $163,037 | $172,157 | $181,494 | $191,037 | $200,774 |
5% down | $146,437 | $154,885 | $163,549 | $172,419 | $181,485 | $190,736 |
10% down | $138,730 | $146,733 | $154,941 | $163,344 | $171,933 | $180,697 |
15% down | $131,023 | $138,581 | $146,333 | $154,270 | $162,381 | $170,658 |
20% down | $123,316 | $130,429 | $137,725 | $145,195 | $152,829 | $160,620 |
25% down | $115,608 | $122,277 | $129,117 | $136,120 | $143,278 | $150,581 |
30% down | $107,901 | $114,126 | $120,510 | $127,046 | $133,726 | $140,542 |
35% down | $100,194 | $105,974 | $111,902 | $117,971 | $124,174 | $130,503 |
40% down | $92,487 | $97,822 | $103,294 | $108,896 | $114,622 | $120,465 |
45% down | $84,779 | $89,670 | $94,686 | $99,822 | $105,070 | $110,426 |
50% down | $77,072 | $81,518 | $86,078 | $90,747 | $95,518 | $100,387 |
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 |