Income to Afford a $250,000 House

How much do you need to make to be able to afford a house that costs $250,000?
Purchase Price
$
Down Payment
$
Interest Rate
%
Term of Loan
Pct. of Income
(for Housing)
%
To afford a house that costs $250,000 with a down payment of $50,000, you'd need to earn $37,303 per year before tax.
The monthly mortgage payment would be $870.

Salary needed for 250,000 dollar mortgage.

This page will calculate how much you need to earn to buy a house that costs $250,000. 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 $250,000 house?
Down Payment 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50%
$0 $42,334 $43,740 $45,172 $46,629 $48,112 $49,620 $51,152 $52,708 $54,288
$12,500 $40,218 $41,553 $42,913 $44,298 $45,706 $47,139 $48,594 $50,072 $51,573
$25,000 $38,101 $39,366 $40,655 $41,966 $43,301 $44,658 $46,036 $47,437 $48,859
$37,500 $35,984 $37,179 $38,396 $39,635 $40,895 $42,177 $43,479 $44,802 $46,145
$50,000 $33,868 $34,992 $36,137 $37,303 $38,490 $39,696 $40,921 $42,166 $43,430
$62,500 $31,751 $32,805 $33,879 $34,972 $36,084 $37,215 $38,364 $39,531 $40,716
$75,000 $29,634 $30,618 $31,620 $32,640 $33,678 $34,734 $35,806 $36,895 $38,001
$87,500 $27,517 $28,431 $29,362 $30,309 $31,273 $32,253 $33,249 $34,260 $35,287
$100,000 $25,401 $26,244 $27,103 $27,978 $28,867 $29,772 $30,691 $31,625 $32,573
$112,500 $23,284 $24,057 $24,845 $25,646 $26,462 $27,291 $28,133 $28,989 $29,858
$125,000 $21,167 $21,870 $22,586 $23,315 $24,056 $24,810 $25,576 $26,354 $27,144
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