Income to Afford a $180,000 House

How much do you need to make to be able to afford a house that costs $180,000?
Purchase price
$
Down payment
$
Interest rate
%
Pct of income
for housing
%
Term of loan
Results
To afford a house that costs $180,000 with a down payment of $36,000, you'd need to earn $39,008 per year before tax.
The mortgage payment would be $910 / month.
Salary needed for 180,000 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 $180,000 house?
Annual income needed by down payment and interest rate
5.00% 5.50% 6.00% 6.50% 7.00% 7.50%
0% down $41,412 $43,801 $46,251 $48,760 $51,323 $53,939
5% down $39,341 $41,611 $43,938 $46,322 $48,757 $51,242
10% down $37,271 $39,421 $41,626 $43,884 $46,191 $48,545
15% down $35,200 $37,231 $39,313 $41,446 $43,625 $45,848
20% down $33,130 $35,041 $37,001 $39,008 $41,059 $43,152
25% down $31,059 $32,851 $34,688 $36,570 $38,493 $40,455
30% down $28,988 $30,661 $32,376 $34,132 $35,926 $37,758
35% down $26,918 $28,471 $30,063 $31,694 $33,360 $35,061
40% down $24,847 $26,281 $27,751 $29,256 $30,794 $32,364
45% down $22,777 $24,090 $25,438 $26,818 $28,228 $29,667
50% down $20,706 $21,900 $23,126 $24,380 $25,662 $26,970
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