Income to Afford a $105,000 House
How much do you need to make to be able to afford a house that costs $105,000?
Purchase price
$
Down payment
$
Interest rate
%
Pct of income
for housing
for housing
%
Term of loan
Results
To afford a house that costs $105,000 with a down payment of $21,000, you'd need to earn $22,754 per year before tax.
The mortgage payment would be $531 / month.
Salary needed for 105,000 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 $105,000 house?
Annual income needed by down payment and interest rate
| 5.00% | 5.50% | 6.00% | 6.50% | 7.00% | 7.50% | |
|---|---|---|---|---|---|---|
| 0% down | $24,157 | $25,551 | $26,980 | $28,443 | $29,939 | $31,465 |
| 5% down | $22,949 | $24,273 | $25,631 | $27,021 | $28,442 | $29,891 |
| 10% down | $21,741 | $22,995 | $24,282 | $25,599 | $26,945 | $28,318 |
| 15% down | $20,533 | $21,718 | $22,933 | $24,177 | $25,448 | $26,745 |
| 20% down | $19,326 | $20,440 | $21,584 | $22,754 | $23,951 | $25,172 |
| 25% down | $18,118 | $19,163 | $20,235 | $21,332 | $22,454 | $23,598 |
| 30% down | $16,910 | $17,885 | $18,886 | $19,910 | $20,957 | $22,025 |
| 35% down | $15,702 | $16,608 | $17,537 | $18,488 | $19,460 | $20,452 |
| 40% down | $14,494 | $15,330 | $16,188 | $17,066 | $17,963 | $18,879 |
| 45% down | $13,286 | $14,053 | $14,839 | $15,644 | $16,466 | $17,306 |
| 50% down | $12,078 | $12,775 | $13,490 | $14,222 | $14,969 | $15,732 |
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 |