Income to Afford a $35,000 House

How much do you need to make to be able to afford a house that costs $35,000?
Purchase Price
$
Down Payment
$
Interest Rate
%
Term of Loan
Pct. of Income
(for Housing)
%
To afford a house that costs $35,000 with a down payment of $7,000, you'd need to earn $5,222 per year before tax.
The monthly mortgage payment would be $122.

Salary needed for 35,000 dollar mortgage.

This page will calculate how much you need to earn to buy a house that costs $35,000. 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 $35,000 house?
Down Payment 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50%
$0 $5,927 $6,124 $6,324 $6,528 $6,736 $6,947 $7,161 $7,379 $7,600
$1,750 $5,630 $5,817 $6,008 $6,202 $6,399 $6,599 $6,803 $7,010 $7,220
$3,500 $5,334 $5,511 $5,692 $5,875 $6,062 $6,252 $6,445 $6,641 $6,840
$5,250 $5,038 $5,205 $5,375 $5,549 $5,725 $5,905 $6,087 $6,272 $6,460
$7,000 $4,741 $4,899 $5,059 $5,222 $5,389 $5,557 $5,729 $5,903 $6,080
$8,750 $4,445 $4,593 $4,743 $4,896 $5,052 $5,210 $5,371 $5,534 $5,700
$10,500 $4,149 $4,287 $4,427 $4,570 $4,715 $4,863 $5,013 $5,165 $5,320
$12,250 $3,852 $3,980 $4,111 $4,243 $4,378 $4,515 $4,655 $4,796 $4,940
$14,000 $3,556 $3,674 $3,794 $3,917 $4,041 $4,168 $4,297 $4,427 $4,560
$15,750 $3,260 $3,368 $3,478 $3,590 $3,705 $3,821 $3,939 $4,059 $4,180
$17,500 $2,963 $3,062 $3,162 $3,264 $3,368 $3,473 $3,581 $3,690 $3,800
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