Income to Afford a $510,000 House

How much do you need to make to be able to afford a house that costs $510,000?
Purchase Price
$
Down Payment
$
Interest Rate
%
Term of Loan
Pct. of Income
(for Housing)
%
To afford a house that costs $510,000 with a down payment of $102,000, you'd need to earn $76,099 per year before tax.
The monthly mortgage payment would be $1,776.

Salary needed for 510,000 dollar mortgage.

This page will calculate how much you need to earn to buy a house that costs $510,000. 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 $510,000 house?
Down Payment 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50%
$0 $86,362 $89,230 $92,151 $95,124 $98,148 $101,224 $104,349 $107,524 $110,747
$25,500 $82,044 $84,768 $87,543 $90,367 $93,241 $96,163 $99,132 $102,148 $105,210
$51,000 $77,726 $80,307 $82,936 $85,611 $88,334 $91,101 $93,914 $96,772 $99,672
$76,500 $73,408 $75,845 $78,328 $80,855 $83,426 $86,040 $88,697 $91,395 $94,135
$102,000 $69,090 $71,384 $73,720 $76,099 $78,519 $80,979 $83,479 $86,019 $88,598
$127,500 $64,772 $66,922 $69,113 $71,343 $73,611 $75,918 $78,262 $80,643 $83,060
$153,000 $60,453 $62,461 $64,505 $66,587 $68,704 $70,857 $73,045 $75,267 $77,523
$178,500 $56,135 $57,999 $59,898 $61,830 $63,796 $65,795 $67,827 $69,891 $71,986
$204,000 $51,817 $53,538 $55,290 $57,074 $58,889 $60,734 $62,610 $64,514 $66,448
$229,500 $47,499 $49,076 $50,683 $52,318 $53,982 $55,673 $57,392 $59,138 $60,911
$255,000 $43,181 $44,615 $46,075 $47,562 $49,074 $50,612 $52,175 $53,762 $55,373
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