# 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 5 years 10 years 15 years 20 years 25 years 30 years 40 years Interest only 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
Utah \$580,251
Oregon \$527,374
Idaho \$500,708
New Jersey \$478,426
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
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