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
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Down payment
$
Interest rate
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Pct of income
for housing
for housing
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Term of loan
Results
To afford a house that costs $235,000 with a down payment of $47,000, you'd need to earn $50,927 per year before tax.
The mortgage payment would be $1,188 / month.
Salary needed for 235,000 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 $235,000 house?
Annual income needed by down payment and interest rate
5.00% | 5.50% | 6.00% | 6.50% | 7.00% | 7.50% | |
---|---|---|---|---|---|---|
0% down | $54,066 | $57,184 | $60,383 | $63,658 | $67,005 | $70,421 |
5% down | $51,362 | $54,325 | $57,364 | $60,475 | $63,655 | $66,900 |
10% down | $48,659 | $51,466 | $54,345 | $57,292 | $60,305 | $63,379 |
15% down | $45,956 | $48,607 | $51,326 | $54,110 | $56,955 | $59,858 |
20% down | $43,252 | $45,748 | $48,307 | $50,927 | $53,604 | $56,337 |
25% down | $40,549 | $42,888 | $45,287 | $47,744 | $50,254 | $52,816 |
30% down | $37,846 | $40,029 | $42,268 | $44,561 | $46,904 | $49,295 |
35% down | $35,143 | $37,170 | $39,249 | $41,378 | $43,554 | $45,774 |
40% down | $32,439 | $34,311 | $36,230 | $38,195 | $40,203 | $42,253 |
45% down | $29,736 | $31,451 | $33,211 | $35,012 | $36,853 | $38,731 |
50% down | $27,033 | $28,592 | $30,192 | $31,829 | $33,503 | $35,210 |
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 |