Income to Afford a $260,000 House

How much do you need to make to be able to afford a house that costs $260,000?
Purchase Price
$
Down Payment
$
Interest Rate
%
Term of Loan
Pct. of Income
(for Housing)
%
To afford a house that costs $260,000 with a down payment of $52,000, you'd need to earn $38,796 per year before tax.
The monthly mortgage payment would be $905.

Salary needed for 260,000 dollar mortgage.

This page will calculate how much you need to earn to buy a house that costs $260,000. 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 $260,000 house?
Down Payment 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50%
$0 $44,028 $45,490 $46,979 $48,494 $50,036 $51,604 $53,198 $54,816 $56,459
$13,000 $41,826 $43,215 $44,630 $46,070 $47,535 $49,024 $50,538 $52,075 $53,636
$26,000 $39,625 $40,941 $42,281 $43,645 $45,033 $46,444 $47,878 $49,335 $50,813
$39,000 $37,424 $38,666 $39,932 $41,220 $42,531 $43,864 $45,218 $46,594 $47,990
$52,000 $35,222 $36,392 $37,583 $38,796 $40,029 $41,283 $42,558 $43,853 $45,167
$65,000 $33,021 $34,117 $35,234 $36,371 $37,527 $38,703 $39,898 $41,112 $42,344
$78,000 $30,819 $31,843 $32,885 $33,946 $35,025 $36,123 $37,238 $38,371 $39,521
$91,000 $28,618 $29,568 $30,536 $31,521 $32,524 $33,543 $34,579 $35,631 $36,698
$104,000 $26,417 $27,294 $28,187 $29,097 $30,022 $30,963 $31,919 $32,890 $33,876
$117,000 $24,215 $25,019 $25,838 $26,672 $27,520 $28,382 $29,259 $30,149 $31,053
$130,000 $22,014 $22,745 $23,489 $24,247 $25,018 $25,802 $26,599 $27,408 $28,230
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