Income to Afford a $220,000 House

How much do you need to make to be able to afford a house that costs $220,000?
Purchase Price
$
Down Payment
$
Interest Rate
%
Term of Loan
Pct. of Income
(for Housing)
%
To afford a house that costs $220,000 with a down payment of $44,000, you'd need to earn $32,827 per year before tax.
The monthly mortgage payment would be $766.

Salary needed for 220,000 dollar mortgage.

This page will calculate how much you need to earn to buy a house that costs $220,000. 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 $220,000 house?
Down Payment 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50%
$0 $37,254 $38,491 $39,751 $41,034 $42,338 $43,665 $45,013 $46,383 $47,773
$11,000 $35,392 $36,567 $37,764 $38,982 $40,222 $41,482 $42,763 $44,064 $45,385
$22,000 $33,529 $34,642 $35,776 $36,930 $38,105 $39,299 $40,512 $41,745 $42,996
$33,000 $31,666 $32,718 $33,789 $34,879 $35,988 $37,115 $38,261 $39,425 $40,607
$44,000 $29,803 $30,793 $31,801 $32,827 $33,871 $34,932 $36,011 $37,106 $38,219
$55,000 $27,941 $28,868 $29,813 $30,775 $31,754 $32,749 $33,760 $34,787 $35,830
$66,000 $26,078 $26,944 $27,826 $28,724 $29,637 $30,566 $31,509 $32,468 $33,441
$77,000 $24,215 $25,019 $25,838 $26,672 $27,520 $28,382 $29,259 $30,149 $31,053
$88,000 $22,353 $23,095 $23,851 $24,620 $25,403 $26,199 $27,008 $27,830 $28,664
$99,000 $20,490 $21,170 $21,863 $22,569 $23,286 $24,016 $24,757 $25,511 $26,275
$110,000 $18,627 $19,246 $19,876 $20,517 $21,169 $21,833 $22,507 $23,191 $23,887
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