Income to Afford a $360,000 House

How much do you need to make to be able to afford a house that costs $360,000?
Purchase Price
$
Down Payment
$
Interest Rate
%
Term of Loan
Pct. of Income
(for Housing)
%
To afford a house that costs $360,000 with a down payment of $72,000, you'd need to earn $53,717 per year before tax.
The monthly mortgage payment would be $1,253.

Salary needed for 360,000 dollar mortgage.

This page will calculate how much you need to earn to buy a house that costs $360,000. 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 $360,000 house?
Down Payment 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50%
$0 $60,962 $62,986 $65,047 $67,146 $69,281 $71,452 $73,658 $75,899 $78,174
$18,000 $57,913 $59,836 $61,795 $63,789 $65,817 $67,880 $69,975 $72,104 $74,266
$36,000 $54,865 $56,687 $58,543 $60,432 $62,353 $64,307 $66,293 $68,309 $70,357
$54,000 $51,817 $53,538 $55,290 $57,074 $58,889 $60,734 $62,610 $64,514 $66,448
$72,000 $48,769 $50,389 $52,038 $53,717 $55,425 $57,162 $58,927 $60,719 $62,539
$90,000 $45,721 $47,239 $48,786 $50,360 $51,961 $53,589 $55,244 $56,924 $58,631
$108,000 $42,673 $44,090 $45,533 $47,002 $48,497 $50,016 $51,561 $53,130 $54,722
$126,000 $39,625 $40,941 $42,281 $43,645 $45,033 $46,444 $47,878 $49,335 $50,813
$144,000 $36,577 $37,791 $39,028 $40,288 $41,569 $42,871 $44,195 $45,540 $46,905
$162,000 $33,529 $34,642 $35,776 $36,930 $38,105 $39,299 $40,512 $41,745 $42,996
$180,000 $30,481 $31,493 $32,524 $33,573 $34,641 $35,726 $36,829 $37,950 $39,087
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