Income to Afford a $285,000 House

How much do you need to make to be able to afford a house that costs $285,000?
Purchase Price
$
Down Payment
$
Interest Rate
%
Term of Loan
Pct. of Income
(for Housing)
%
To afford a house that costs $285,000 with a down payment of $57,000, you'd need to earn $42,526 per year before tax.
The monthly mortgage payment would be $992.

Salary needed for 285,000 dollar mortgage.

This page will calculate how much you need to earn to buy a house that costs $285,000. 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 $285,000 house?
Down Payment 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50%
$0 $48,261 $49,864 $51,496 $53,157 $54,848 $56,566 $58,313 $60,087 $61,888
$14,250 $45,848 $47,371 $48,921 $50,499 $52,105 $53,738 $55,397 $57,083 $58,794
$28,500 $43,435 $44,877 $46,346 $47,842 $49,363 $50,910 $52,482 $54,078 $55,699
$42,750 $41,022 $42,384 $43,772 $45,184 $46,620 $48,081 $49,566 $51,074 $52,605
$57,000 $38,609 $39,891 $41,197 $42,526 $43,878 $45,253 $46,650 $48,070 $49,510
$71,250 $36,196 $37,398 $38,622 $39,868 $41,136 $42,425 $43,735 $45,065 $46,416
$85,500 $33,783 $34,905 $36,047 $37,210 $38,393 $39,596 $40,819 $42,061 $43,322
$99,750 $31,370 $32,411 $33,472 $34,552 $35,651 $36,768 $37,903 $39,057 $40,227
$114,000 $28,957 $29,918 $30,898 $31,894 $32,909 $33,940 $34,988 $36,052 $37,133
$128,250 $26,544 $27,425 $28,323 $29,237 $30,166 $31,111 $32,072 $33,048 $34,038
$142,500 $24,131 $24,932 $25,748 $26,579 $27,424 $28,283 $29,156 $30,043 $30,944
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