Income to Afford a $270,000 House

How much do you need to make to be able to afford a house that costs $270,000?
Purchase Price
$
Down Payment
$
Interest Rate
%
Term of Loan
Pct. of Income
(for Housing)
%
To afford a house that costs $270,000 with a down payment of $54,000, you'd need to earn $40,288 per year before tax.
The monthly mortgage payment would be $940.

Salary needed for 270,000 dollar mortgage.

This page will calculate how much you need to earn to buy a house that costs $270,000. 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 $270,000 house?
Down Payment 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50%
$0 $45,721 $47,239 $48,786 $50,360 $51,961 $53,589 $55,244 $56,924 $58,631
$13,500 $43,435 $44,877 $46,346 $47,842 $49,363 $50,910 $52,482 $54,078 $55,699
$27,000 $41,149 $42,515 $43,907 $45,324 $46,765 $48,230 $49,719 $51,232 $52,768
$40,500 $38,863 $40,153 $41,468 $42,806 $44,167 $45,551 $46,957 $48,386 $49,836
$54,000 $36,577 $37,791 $39,028 $40,288 $41,569 $42,871 $44,195 $45,540 $46,905
$67,500 $34,291 $35,430 $36,589 $37,770 $38,971 $40,192 $41,433 $42,693 $43,973
$81,000 $32,005 $33,068 $34,150 $35,252 $36,373 $37,512 $38,671 $39,847 $41,042
$94,500 $29,719 $30,706 $31,711 $32,734 $33,775 $34,833 $35,908 $37,001 $38,110
$108,000 $27,433 $28,344 $29,271 $30,216 $31,177 $32,153 $33,146 $34,155 $35,178
$121,500 $25,147 $25,982 $26,832 $27,698 $28,578 $29,474 $30,384 $31,308 $32,247
$135,000 $22,861 $23,620 $24,393 $25,180 $25,980 $26,795 $27,622 $28,462 $29,315
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