Income to Afford a $150,000 House

How much do you need to make to be able to afford a house that costs $150,000?
Purchase Price
$
Down Payment
$
Interest Rate
%
Term of Loan
Pct. of Income
(for Housing)
%
To afford a house that costs $150,000 with a down payment of $30,000, you'd need to earn $22,382 per year before tax.
The monthly mortgage payment would be $522.

Salary needed for 150,000 dollar mortgage.

This page will calculate how much you need to earn to buy a house that costs $150,000. 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 $150,000 house?
Down Payment 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50%
$0 $25,401 $26,244 $27,103 $27,978 $28,867 $29,772 $30,691 $31,625 $32,573
$7,500 $24,131 $24,932 $25,748 $26,579 $27,424 $28,283 $29,156 $30,043 $30,944
$15,000 $22,861 $23,620 $24,393 $25,180 $25,980 $26,795 $27,622 $28,462 $29,315
$22,500 $21,591 $22,307 $23,038 $23,781 $24,537 $25,306 $26,087 $26,881 $27,687
$30,000 $20,321 $20,995 $21,682 $22,382 $23,094 $23,817 $24,553 $25,300 $26,058
$37,500 $19,050 $19,683 $20,327 $20,983 $21,650 $22,329 $23,018 $23,719 $24,429
$45,000 $17,780 $18,371 $18,972 $19,584 $20,207 $20,840 $21,484 $22,137 $22,801
$52,500 $16,510 $17,059 $17,617 $18,185 $18,764 $19,352 $19,949 $20,556 $21,172
$60,000 $15,240 $15,746 $16,262 $16,787 $17,320 $17,863 $18,415 $18,975 $19,544
$67,500 $13,970 $14,434 $14,907 $15,388 $15,877 $16,374 $16,880 $17,394 $17,915
$75,000 $12,700 $13,122 $13,552 $13,989 $14,434 $14,886 $15,345 $15,812 $16,286
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