Income to Afford a $2,100,000 House
How much do you need to make to be able to afford a house that costs $2.1 million?
Purchase price
$
Down payment
$
Interest rate
%
Pct of income
for housing
for housing
%
Term of loan
Results
To afford a house that costs $2,100,000 with a down payment of $420,000, you'd need to earn $455,089 per year before tax.
The mortgage payment would be $10,619 / month.
Salary needed for 2,100,000 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 $2,100,000 house?
Annual income needed by down payment and interest rate
| 5.00% | 5.50% | 6.00% | 6.50% | 7.00% | 7.50% | |
|---|---|---|---|---|---|---|
| 0% down | $483,139 | $511,010 | $539,595 | $568,861 | $598,772 | $629,293 |
| 5% down | $458,982 | $485,460 | $512,616 | $540,418 | $568,834 | $597,828 |
| 10% down | $434,826 | $459,909 | $485,636 | $511,975 | $538,895 | $566,364 |
| 15% down | $410,669 | $434,359 | $458,656 | $483,532 | $508,956 | $534,899 |
| 20% down | $386,512 | $408,808 | $431,676 | $455,089 | $479,018 | $503,434 |
| 25% down | $362,355 | $383,258 | $404,697 | $426,646 | $449,079 | $471,970 |
| 30% down | $338,198 | $357,707 | $377,717 | $398,203 | $419,141 | $440,505 |
| 35% down | $314,041 | $332,157 | $350,737 | $369,760 | $389,202 | $409,040 |
| 40% down | $289,884 | $306,606 | $323,757 | $341,317 | $359,263 | $377,576 |
| 45% down | $265,727 | $281,056 | $296,778 | $312,874 | $329,325 | $346,111 |
| 50% down | $241,570 | $255,505 | $269,798 | $284,431 | $299,386 | $314,647 |
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 |