Income to Afford a $200,000 House

How much do you need to make to be able to afford a house that costs $200,000?
Purchase Price
$
Down Payment
$
Interest Rate
%
Term of Loan
Pct. of Income
(for Housing)
%
To afford a house that costs $200,000 with a down payment of $40,000, you'd need to earn $29,843 per year before tax.
The monthly mortgage payment would be $696.

Salary needed for 200,000 dollar mortgage.

This page will calculate how much you need to earn to buy a house that costs $200,000. 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 $200,000 house?
Down Payment 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50%
$0 $33,868 $34,992 $36,137 $37,303 $38,490 $39,696 $40,921 $42,166 $43,430
$10,000 $32,174 $33,242 $34,331 $35,438 $36,565 $37,711 $38,875 $40,058 $41,259
$20,000 $30,481 $31,493 $32,524 $33,573 $34,641 $35,726 $36,829 $37,950 $39,087
$30,000 $28,787 $29,743 $30,717 $31,708 $32,716 $33,741 $34,783 $35,841 $36,916
$40,000 $27,094 $27,994 $28,910 $29,843 $30,792 $31,756 $32,737 $33,733 $34,744
$50,000 $25,401 $26,244 $27,103 $27,978 $28,867 $29,772 $30,691 $31,625 $32,573
$60,000 $23,707 $24,494 $25,296 $26,112 $26,943 $27,787 $28,645 $29,516 $30,401
$70,000 $22,014 $22,745 $23,489 $24,247 $25,018 $25,802 $26,599 $27,408 $28,230
$80,000 $20,321 $20,995 $21,682 $22,382 $23,094 $23,817 $24,553 $25,300 $26,058
$90,000 $18,627 $19,246 $19,876 $20,517 $21,169 $21,833 $22,507 $23,191 $23,887
$100,000 $16,934 $17,496 $18,069 $18,652 $19,245 $19,848 $20,461 $21,083 $21,715
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