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, 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