Income to Afford a $710,000 House
How much do you need to make to be able to afford a house that costs $710,000?
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 $710,000 with a down payment of $142,000, you'd need to earn $153,863 per year before tax.
The mortgage payment would be $3,590 / month.
Salary needed for 710,000 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 $710,000 house?
Annual income needed by down payment and interest rate
5.00% | 5.50% | 6.00% | 6.50% | 7.00% | 7.50% | |
---|---|---|---|---|---|---|
0% down | $163,347 | $172,770 | $182,435 | $192,329 | $202,442 | $212,761 |
5% down | $155,180 | $164,132 | $173,313 | $182,713 | $192,320 | $202,123 |
10% down | $147,012 | $155,493 | $164,191 | $173,096 | $182,198 | $191,485 |
15% down | $138,845 | $146,855 | $155,069 | $163,480 | $172,076 | $180,847 |
20% down | $130,678 | $138,216 | $145,948 | $153,863 | $161,954 | $170,209 |
25% down | $122,510 | $129,578 | $136,826 | $144,247 | $151,832 | $159,571 |
30% down | $114,343 | $120,939 | $127,704 | $134,630 | $141,709 | $148,933 |
35% down | $106,176 | $112,301 | $118,583 | $125,014 | $131,587 | $138,295 |
40% down | $98,008 | $103,662 | $109,461 | $115,398 | $121,465 | $127,657 |
45% down | $89,841 | $95,024 | $100,339 | $105,781 | $111,343 | $117,019 |
50% down | $81,674 | $86,385 | $91,217 | $96,165 | $101,221 | $106,380 |
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 |