Income to Afford a $290,000 House

How much do you need to make to be able to afford a house that costs $290,000?
Purchase Price
$
Down Payment
$
Interest Rate
%
Term of Loan
Pct. of Income
(for Housing)
%
To afford a house that costs $290,000 with a down payment of $58,000, you'd need to earn $43,272 per year before tax.
The monthly mortgage payment would be $1,010.

Salary needed for 290,000 dollar mortgage.

This page will calculate how much you need to earn to buy a house that costs $290,000. 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 $290,000 house?
Down Payment 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50%
$0 $49,108 $50,739 $52,399 $54,090 $55,810 $57,559 $59,336 $61,141 $62,974
$14,500 $46,652 $48,202 $49,779 $51,385 $53,019 $54,681 $56,369 $58,084 $59,825
$29,000 $44,197 $45,665 $47,159 $48,681 $50,229 $51,803 $53,402 $55,027 $56,676
$43,500 $41,742 $43,128 $44,539 $45,976 $47,438 $48,925 $50,436 $51,970 $53,528
$58,000 $39,286 $40,591 $41,919 $43,272 $44,648 $46,047 $47,469 $48,913 $50,379
$72,500 $36,831 $38,054 $39,300 $40,567 $41,857 $43,169 $44,502 $45,856 $47,230
$87,000 $34,376 $35,517 $36,680 $37,863 $39,067 $40,291 $41,535 $42,799 $44,082
$101,500 $31,920 $32,980 $34,060 $35,158 $36,276 $37,413 $38,568 $39,742 $40,933
$116,000 $29,465 $30,443 $31,440 $32,454 $33,486 $34,535 $35,602 $36,685 $37,784
$130,500 $27,009 $27,906 $28,820 $29,749 $30,695 $31,657 $32,635 $33,628 $34,636
$145,000 $24,554 $25,369 $26,200 $27,045 $27,905 $28,779 $29,668 $30,571 $31,487
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