Income to Afford a $175,000 House

How much do you need to make to be able to afford a house that costs $175,000?
Purchase Price
$
Down Payment
$
Interest Rate
%
Term of Loan
Pct. of Income
(for Housing)
%
To afford a house that costs $175,000 with a down payment of $35,000, you'd need to earn $26,112 per year before tax.
The monthly mortgage payment would be $609.

Salary needed for 175,000 dollar mortgage.

This page will calculate how much you need to earn to buy a house that costs $175,000. 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 $175,000 house?
Down Payment 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50%
$0 $29,634 $30,618 $31,620 $32,640 $33,678 $34,734 $35,806 $36,895 $38,001
$8,750 $28,152 $29,087 $30,039 $31,008 $31,994 $32,997 $34,016 $35,051 $36,101
$17,500 $26,671 $27,556 $28,458 $29,376 $30,311 $31,260 $32,226 $33,206 $34,201
$26,250 $25,189 $26,025 $26,877 $27,744 $28,627 $29,524 $30,435 $31,361 $32,301
$35,000 $23,707 $24,494 $25,296 $26,112 $26,943 $27,787 $28,645 $29,516 $30,401
$43,750 $22,226 $22,964 $23,715 $24,480 $25,259 $26,050 $26,855 $27,672 $28,501
$52,500 $20,744 $21,433 $22,134 $22,848 $23,575 $24,314 $25,064 $25,827 $26,601
$61,250 $19,262 $19,902 $20,553 $21,216 $21,891 $22,577 $23,274 $23,982 $24,701
$70,000 $17,780 $18,371 $18,972 $19,584 $20,207 $20,840 $21,484 $22,137 $22,801
$78,750 $16,299 $16,840 $17,391 $17,952 $18,523 $19,104 $19,693 $20,293 $20,901
$87,500 $14,817 $15,309 $15,810 $16,320 $16,839 $17,367 $17,903 $18,448 $19,001
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