Income to Afford a $235,000 House

How much do you need to make to be able to afford a house that costs $235,000?
Purchase Price
$
Down Payment
$
Interest Rate
%
Term of Loan
Pct. of Income
(for Housing)
%
To afford a house that costs $235,000 with a down payment of $47,000, you'd need to earn $35,065 per year before tax.
The monthly mortgage payment would be $818.

Salary needed for 235,000 dollar mortgage.

This page will calculate how much you need to earn to buy a house that costs $235,000. 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 $235,000 house?
Down Payment 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50%
$0 $39,794 $41,116 $42,462 $43,831 $45,225 $46,642 $48,083 $49,545 $51,030
$11,750 $37,805 $39,060 $40,338 $41,640 $42,964 $44,310 $45,678 $47,068 $48,479
$23,500 $35,815 $37,004 $38,215 $39,448 $40,703 $41,978 $43,274 $44,591 $45,927
$35,250 $33,825 $34,948 $36,092 $37,257 $38,441 $39,646 $40,870 $42,114 $43,376
$47,000 $31,835 $32,893 $33,969 $35,065 $36,180 $37,314 $38,466 $39,636 $40,824
$58,750 $29,846 $30,837 $31,846 $32,874 $33,919 $34,982 $36,062 $37,159 $38,273
$70,500 $27,856 $28,781 $29,723 $30,682 $31,658 $32,650 $33,658 $34,682 $35,721
$82,250 $25,866 $26,725 $27,600 $28,490 $29,396 $30,318 $31,254 $32,204 $33,170
$94,000 $23,877 $24,669 $25,477 $26,299 $27,135 $27,985 $28,850 $29,727 $30,618
$105,750 $21,887 $22,614 $23,354 $24,107 $24,874 $25,653 $26,445 $27,250 $28,067
$117,500 $19,897 $20,558 $21,231 $21,916 $22,613 $23,321 $24,041 $24,773 $25,515
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