Income to Afford a $195,000 House

How much do you need to make to be able to afford a house that costs $195,000?
Purchase price
$
Down payment
$
Interest rate
%
Pct of income
for housing
%
Term of loan
Results
To afford a house that costs $195,000 with a down payment of $39,000, you'd need to earn $42,258 per year before tax.
The mortgage payment would be $986 / month.
Salary needed for 195,000 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 $195,000 house?
Annual income needed by down payment and interest rate
5.00% 5.50% 6.00% 6.50% 7.00% 7.50%
0% down $44,863 $47,451 $50,105 $52,823 $55,600 $58,434
5% down $42,620 $45,078 $47,600 $50,182 $52,820 $55,513
10% down $40,377 $42,706 $45,095 $47,541 $50,040 $52,591
15% down $38,134 $40,333 $42,589 $44,899 $47,260 $49,669
20% down $35,890 $37,961 $40,084 $42,258 $44,480 $46,747
25% down $33,647 $35,588 $37,579 $39,617 $41,700 $43,826
30% down $31,404 $33,216 $35,074 $36,976 $38,920 $40,904
35% down $29,161 $30,843 $32,568 $34,335 $36,140 $37,982
40% down $26,918 $28,471 $30,063 $31,694 $33,360 $35,061
45% down $24,675 $26,098 $27,558 $29,053 $30,580 $32,139
50% down $22,431 $23,725 $25,053 $26,411 $27,800 $29,217
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