Income to Afford a $315,000 House

How much do you need to make to be able to afford a house that costs $315,000?
Purchase Price
$
Down Payment
$
Interest Rate
%
Term of Loan
Pct. of Income
(for Housing)
%
To afford a house that costs $315,000 with a down payment of $63,000, you'd need to earn $47,002 per year before tax.
The monthly mortgage payment would be $1,097.

Salary needed for 315,000 dollar mortgage.

This page will calculate how much you need to earn to buy a house that costs $315,000. 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 $315,000 house?
Down Payment 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50%
$0 $53,341 $55,113 $56,917 $58,753 $60,621 $62,521 $64,451 $66,412 $68,403
$15,750 $50,674 $52,357 $54,071 $55,815 $57,590 $59,395 $61,229 $63,091 $64,982
$31,500 $48,007 $49,601 $51,225 $52,878 $54,559 $56,269 $58,006 $59,771 $61,562
$47,250 $45,340 $46,846 $48,379 $49,940 $51,528 $53,143 $54,783 $56,450 $58,142
$63,000 $42,673 $44,090 $45,533 $47,002 $48,497 $50,016 $51,561 $53,130 $54,722
$78,750 $40,006 $41,334 $42,687 $44,065 $45,466 $46,890 $48,338 $49,809 $51,302
$94,500 $37,339 $38,579 $39,842 $41,127 $42,435 $43,764 $45,116 $46,488 $47,882
$110,250 $34,672 $35,823 $36,996 $38,189 $39,404 $40,638 $41,893 $43,168 $44,462
$126,000 $32,005 $33,068 $34,150 $35,252 $36,373 $37,512 $38,671 $39,847 $41,042
$141,750 $29,338 $30,312 $31,304 $32,314 $33,342 $34,386 $35,448 $36,527 $37,621
$157,500 $26,671 $27,556 $28,458 $29,376 $30,311 $31,260 $32,226 $33,206 $34,201
Average Home Price by State
Source: Zillow.com, February 2022
State Price
Hawaii $887,662
California $872,894
Washington $663,136
Massachusetts $608,499
Colorado $599,500
Utah $580,251
Oregon $527,374
Idaho $500,708
New Jersey $478,426
Nevada $465,945
Montana $461,868
Rhode Island $461,200
Arizona $453,645
New York $448,151
New Hampshire $434,551
Maryland $416,409
Virginia $406,488
Florida $396,641
Connecticut $383,392
Maine $372,263
Delaware $359,450
Vermont $358,071
Wyoming $340,039
Minnesota $336,830
Alaska $326,656
Texas $323,290
North Carolina $321,603
Georgia $316,790
New Mexico $302,730
Tennessee $302,480
South Carolina $298,971
South Dakota $295,855
Pennsylvania $278,702
North Dakota $276,009
Illinois $269,935
Wisconsin $268,418
Michigan $245,105
Nebraska $242,576
Missouri $234,970
Indiana $226,180
Louisiana $220,642
Kansas $219,302
Ohio $218,554
Alabama $211,743
Kentucky $203,256
Iowa $198,353
Arkansas $185,323
Oklahoma $182,731
Mississippi $176,906
West Virginia $144,935