Income to Afford a $820,000 House
How much do you need to make to be able to afford a house that costs $820,000?
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 $820,000 with a down payment of $164,000, you'd need to earn $177,701 per year before tax.
The mortgage payment would be $4,146 / month.
Salary needed for 820,000 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 $820,000 house?
Annual income needed by down payment and interest rate
| 5.00% | 5.50% | 6.00% | 6.50% | 7.00% | 7.50% | |
|---|---|---|---|---|---|---|
| 0% down | $188,654 | $199,537 | $210,699 | $222,127 | $233,806 | $245,724 |
| 5% down | $179,222 | $189,560 | $200,164 | $211,020 | $222,116 | $233,438 |
| 10% down | $169,789 | $179,584 | $189,629 | $199,914 | $210,426 | $221,152 |
| 15% down | $160,356 | $169,607 | $179,094 | $188,808 | $198,735 | $208,865 |
| 20% down | $150,924 | $159,630 | $168,559 | $177,701 | $187,045 | $196,579 |
| 25% down | $141,491 | $149,653 | $158,024 | $166,595 | $175,355 | $184,293 |
| 30% down | $132,058 | $139,676 | $147,489 | $155,489 | $163,664 | $172,007 |
| 35% down | $122,625 | $129,699 | $136,954 | $144,382 | $151,974 | $159,721 |
| 40% down | $113,193 | $119,722 | $126,420 | $133,276 | $140,284 | $147,434 |
| 45% down | $103,760 | $109,746 | $115,885 | $122,170 | $128,593 | $135,148 |
| 50% down | $94,327 | $99,769 | $105,350 | $111,063 | $116,903 | $122,862 |
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 |