Income to Afford a $500,000 House

How much do you need to make to be able to afford a house that costs $500,000?
Purchase Price
$
Down Payment
$
Interest Rate
%
Term of Loan
Pct. of Income
(for Housing)
%
To afford a house that costs $500,000 with a down payment of $100,000, you'd need to earn $86,860 per year before tax.
The monthly mortgage payment would be $2,027.

Salary needed for 500,000 dollar mortgage.

This page will calculate how much you need to earn to buy a house that costs $500,000. 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 $500,000 house?
Down Payment 3.75% 4.00% 4.25% 4.50% 4.75% 5.00%
$0 $99,239 $102,303 $105,416 $108,575 $111,782 $115,033
$25,000 $94,277 $97,188 $100,145 $103,147 $106,192 $109,282
$50,000 $89,315 $92,073 $94,874 $97,718 $100,603 $103,530
$75,000 $84,353 $86,958 $89,603 $92,289 $95,014 $97,778
$100,000 $79,391 $81,843 $84,333 $86,860 $89,425 $92,027
$125,000 $74,429 $76,727 $79,062 $81,432 $83,836 $86,275
$150,000 $69,467 $71,612 $73,791 $76,003 $78,247 $80,523
$175,000 $64,505 $66,497 $68,520 $70,574 $72,658 $74,772
$200,000 $59,543 $61,382 $63,249 $65,145 $67,069 $69,020
$225,000 $54,581 $56,267 $57,979 $59,716 $61,480 $63,268
$250,000 $49,620 $51,152 $52,708 $54,288 $55,891 $57,517