Income to Afford a $100,000 House
How much do you need to make to be able to afford a house that costs $100,000?
Purchase price
$
Down payment
$
Interest rate
%
Pct of income
for housing
for housing
%
Term of loan
Results
To afford a house that costs $100,000 with a down payment of $20,000, you'd need to earn $21,671 per year before tax.
The mortgage payment would be $506 / month.
Salary needed for 100,000 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 $100,000 house?
Annual income needed by down payment and interest rate
| 5.00% | 5.50% | 6.00% | 6.50% | 7.00% | 7.50% | |
|---|---|---|---|---|---|---|
| 0% down | $23,007 | $24,334 | $25,695 | $27,089 | $28,513 | $29,966 |
| 5% down | $21,856 | $23,117 | $24,410 | $25,734 | $27,087 | $28,468 |
| 10% down | $20,706 | $21,900 | $23,126 | $24,380 | $25,662 | $26,970 |
| 15% down | $19,556 | $20,684 | $21,841 | $23,025 | $24,236 | $25,471 |
| 20% down | $18,405 | $19,467 | $20,556 | $21,671 | $22,810 | $23,973 |
| 25% down | $17,255 | $18,250 | $19,271 | $20,316 | $21,385 | $22,475 |
| 30% down | $16,105 | $17,034 | $17,987 | $18,962 | $19,959 | $20,976 |
| 35% down | $14,954 | $15,817 | $16,702 | $17,608 | $18,533 | $19,478 |
| 40% down | $13,804 | $14,600 | $15,417 | $16,253 | $17,108 | $17,980 |
| 45% down | $12,654 | $13,384 | $14,132 | $14,899 | $15,682 | $16,481 |
| 50% down | $11,503 | $12,167 | $12,848 | $13,544 | $14,256 | $14,983 |
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 |