Income to Afford a $310,000 House

How much do you need to make to be able to afford a house that costs $310,000?
Purchase Price
$
Down Payment
$
Interest Rate
%
Term of Loan
Pct. of Income
(for Housing)
%
To afford a house that costs $310,000 with a down payment of $62,000, you'd need to earn $46,256 per year before tax.
The monthly mortgage payment would be $1,079.

Salary needed for 310,000 dollar mortgage.

This page will calculate how much you need to earn to buy a house that costs $310,000. 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 $310,000 house?
Down Payment 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50%
$0 $52,495 $54,238 $56,013 $57,820 $59,659 $61,528 $63,428 $65,358 $67,317
$15,500 $49,870 $51,526 $53,212 $54,929 $56,676 $58,452 $60,257 $62,090 $63,951
$31,000 $47,245 $48,814 $50,412 $52,038 $53,693 $55,375 $57,085 $58,822 $60,585
$46,500 $44,620 $46,102 $47,611 $49,147 $50,710 $52,299 $53,914 $55,554 $57,219
$62,000 $41,996 $43,390 $44,810 $46,256 $47,727 $49,223 $50,742 $52,286 $53,853
$77,500 $39,371 $40,678 $42,010 $43,365 $44,744 $46,146 $47,571 $49,018 $50,488
$93,000 $36,746 $37,966 $39,209 $40,474 $41,761 $43,070 $44,400 $45,750 $47,122
$108,500 $34,122 $35,255 $36,409 $37,583 $38,778 $39,993 $41,228 $42,483 $43,756
$124,000 $31,497 $32,543 $33,608 $34,692 $35,795 $36,917 $38,057 $39,215 $40,390
$139,500 $28,872 $29,831 $30,807 $31,801 $32,812 $33,841 $34,885 $35,947 $37,024
$155,000 $26,247 $27,119 $28,007 $28,910 $29,829 $30,764 $31,714 $32,679 $33,658
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