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
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Down payment
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Interest rate
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Pct of income
for housing
for housing
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Term of loan
Results
To afford a house that costs $310,000 with a down payment of $62,000, you'd need to earn $67,180 per year before tax.
The mortgage payment would be $1,568 / month.
Salary needed for 310,000 dollar mortgage.
Note: This calculator is for fixed-rate mortgages. Adjustable-rate mortgages, or ARMs, may allow you to acheive lower payments in the short term. However, with ARMs, your monthly payment may increase if interest rates rise.
Note: 28% is the standard percentage of pre-tax income to spend on housing.
What is the income needed to buy a $310,000 house?
Annual income needed by down payment and interest rate
| 5.00% | 5.50% | 6.00% | 6.50% | 7.00% | 7.50% | |
|---|---|---|---|---|---|---|
| 0% down | $71,321 | $75,435 | $79,655 | $83,975 | $88,390 | $92,896 |
| 5% down | $67,755 | $71,663 | $75,672 | $79,776 | $83,971 | $88,251 |
| 10% down | $64,189 | $67,891 | $71,689 | $75,577 | $79,551 | $83,606 |
| 15% down | $60,622 | $64,120 | $67,706 | $71,379 | $75,132 | $78,961 |
| 20% down | $57,056 | $60,348 | $63,724 | $67,180 | $70,712 | $74,317 |
| 25% down | $53,490 | $56,576 | $59,741 | $62,981 | $66,293 | $69,672 |
| 30% down | $49,924 | $52,804 | $55,758 | $58,782 | $61,873 | $65,027 |
| 35% down | $46,358 | $49,033 | $51,775 | $54,584 | $57,454 | $60,382 |
| 40% down | $42,792 | $45,261 | $47,793 | $50,385 | $53,034 | $55,737 |
| 45% down | $39,226 | $41,489 | $43,810 | $46,186 | $48,615 | $51,093 |
| 50% down | $35,660 | $37,717 | $39,827 | $41,987 | $44,195 | $46,448 |
Average House Price by State
What's the median price for a home in all 50 states? Source: Zillow, June 2023
| State | Price |
|---|---|
| Hawaii | $837,324 |
| California | $743,362 |
| Massachusetts | $587,875 |
| Washington | $577,353 |
| Colorado | $543,143 |
| Utah | $510,934 |
| Oregon | $498,558 |
| New Jersey | $484,467 |
| New Hampshire | $446,839 |
| Montana | $446,602 |
| Idaho | $442,820 |
| New York | $441,462 |
| Rhode Island | $432,888 |
| Arizona | $420,494 |
| Nevada | $416,340 |
| Maryland | $405,562 |
| Florida | $390,856 |
| State | Price |
|---|---|
| Maine | $383,137 |
| Vermont | $380,266 |
| Connecticut | $374,599 |
| Virginia | $371,623 |
| Delaware | $370,405 |
| Alaska | $351,218 |
| Wyoming | $338,216 |
| Minnesota | $331,190 |
| North Carolina | $320,096 |
| Georgia | $318,919 |
| Tennessee | $311,628 |
| Texas | $303,971 |
| South Dakota | $296,109 |
| New Mexico | $292,822 |
| South Carolina | $288,816 |
| Wisconsin | $285,037 |
| Pennsylvania | $255,965 |
| State | Price |
|---|---|
| Nebraska | $254,916 |
| North Dakota | $251,062 |
| Illinois | $250,542 |
| Missouri | $238,055 |
| Michigan | $235,361 |
| Indiana | $231,660 |
| Alabama | $223,246 |
| Ohio | $218,667 |
| Kansas | $215,642 |
| Iowa | $211,054 |
| Kentucky | $200,955 |
| Louisiana | $200,370 |
| Arkansas | $199,636 |
| Oklahoma | $198,936 |
| Mississippi | $172,654 |
| West Virginia | $155,773 |