Income to Afford a $1,500,000 House

How much do you need to make to be able to afford a house that costs $1,500,000?
Purchase Price
$
Down Payment
$
Interest Rate
%
Term of Loan
Pct. of Income
(for Housing)
%
To afford a house that costs $1,500,000 with a down payment of $300,000, you'd need to earn $223,820 per year before tax.
The monthly mortgage payment would be $5,222.

Salary needed for 1,500,000 dollar mortgage.

This page will calculate how much you need to earn to buy a house that costs $1,500,000. 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 $1,500,000 house?
Down Payment 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50%
$0 $254,006 $262,441 $271,031 $279,775 $288,672 $297,717 $306,910 $316,247 $325,726
$75,000 $241,306 $249,319 $257,480 $265,787 $274,238 $282,831 $291,564 $300,435 $309,440
$150,000 $228,606 $236,197 $243,928 $251,798 $259,804 $267,945 $276,219 $284,622 $293,154
$225,000 $215,905 $223,075 $230,376 $237,809 $245,371 $253,060 $260,873 $268,810 $276,867
$300,000 $203,205 $209,953 $216,825 $223,820 $230,937 $238,174 $245,528 $252,998 $260,581
$375,000 $190,505 $196,831 $203,273 $209,832 $216,504 $223,288 $230,182 $237,185 $244,295
$450,000 $177,804 $183,709 $189,722 $195,843 $202,070 $208,402 $214,837 $221,373 $228,008
$525,000 $165,104 $170,586 $176,170 $181,854 $187,637 $193,516 $199,491 $205,561 $211,722
$600,000 $152,404 $157,464 $162,619 $167,865 $173,203 $178,630 $184,146 $189,748 $195,436
$675,000 $139,703 $144,342 $149,067 $153,877 $158,769 $163,744 $168,800 $173,936 $179,149
$750,000 $127,003 $131,220 $135,516 $139,888 $144,336 $148,859 $153,455 $158,124 $162,863
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