Income to Afford a $140,000 House

How much do you need to make to be able to afford a house that costs $140,000?
Purchase Price
$
Down Payment
$
Interest Rate
%
Term of Loan
Pct. of Income
(for Housing)
%
To afford a house that costs $140,000 with a down payment of $28,000, you'd need to earn $20,890 per year before tax.
The monthly mortgage payment would be $487.

Salary needed for 140,000 dollar mortgage.

This page will calculate how much you need to earn to buy a house that costs $140,000. It assumes a fixed-rate mortgage.

A good rule of thumb is to spend no more than 28% of your pre-tax income on your mortgage payment.

What is the income needed to buy a $140,000 house?
Down Payment 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50%
$0 $23,707 $24,494 $25,296 $26,112 $26,943 $27,787 $28,645 $29,516 $30,401
$7,000 $22,522 $23,270 $24,031 $24,807 $25,596 $26,398 $27,213 $28,041 $28,881
$14,000 $21,337 $22,045 $22,767 $23,501 $24,248 $25,008 $25,780 $26,565 $27,361
$21,000 $20,151 $20,820 $21,502 $22,196 $22,901 $23,619 $24,348 $25,089 $25,841
$28,000 $18,966 $19,596 $20,237 $20,890 $21,554 $22,230 $22,916 $23,613 $24,321
$35,000 $17,780 $18,371 $18,972 $19,584 $20,207 $20,840 $21,484 $22,137 $22,801
$42,000 $16,595 $17,146 $17,707 $18,279 $18,860 $19,451 $20,051 $20,661 $21,281
$49,000 $15,410 $15,921 $16,443 $16,973 $17,513 $18,062 $18,619 $19,186 $19,761
$56,000 $14,224 $14,697 $15,178 $15,667 $16,166 $16,672 $17,187 $17,710 $18,241
$63,000 $13,039 $13,472 $13,913 $14,362 $14,818 $15,283 $15,755 $16,234 $16,721
$70,000 $11,854 $12,247 $12,648 $13,056 $13,471 $13,893 $14,322 $14,758 $15,201
Average Home Price by State
Source: Zillow.com, December 2020
State Price
Hawaii$673,344
California$617,633
Massachusetts$470,610
Washington$463,856
Colorado$436,751
Oregon$397,363
Utah$395,205
New Jersey$372,870
New York$346,973
Idaho$339,238
Maryland$338,169
Rhode Island$337,100
Nevada$329,465
New Hampshire$326,908
Montana$320,351
Arizona$309,122
Virginia$305,509
Alaska$300,283
Connecticut$285,853
Delaware$281,923
Minnesota$279,516
Vermont$275,472
Maine$272,886
Florida$267,296
Wyoming$261,262
North Dakota$238,112
New Mexico$226,941
South Dakota$224,126
North Carolina$222,909
Texas$222,237
Georgia$221,471
Illinois$218,622
Pennsylvania$213,499
Wisconsin$211,598
Tennessee$205,068
South Carolina$204,967
Nebraska$190,827
Michigan$190,052
Missouri$178,656
Louisiana$178,041
Indiana$171,240
Ohio$166,358
Kansas$166,254
Kentucky$158,685
Iowa$158,239
Alabama$157,366
Arkansas$141,095
Oklahoma$140,511
Mississippi$133,213
West Virginia$113,124