Income to Afford a $580,000 House

How much do you need to make to be able to afford a house that costs $580,000?
Purchase Price
$
Down Payment
$
Interest Rate
%
Term of Loan
Pct. of Income
(for Housing)
%
To afford a house that costs $580,000 with a down payment of $116,000, you'd need to earn $86,544 per year before tax.
The monthly mortgage payment would be $2,019.

Salary needed for 580,000 dollar mortgage.

This page will calculate how much you need to earn to buy a house that costs $580,000. 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 $580,000 house?
Down Payment 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50%
$0 $98,216 $101,477 $104,799 $108,180 $111,620 $115,117 $118,672 $122,282 $125,947
$29,000 $93,305 $96,403 $99,559 $102,771 $106,039 $109,361 $112,738 $116,168 $119,650
$58,000 $88,394 $91,329 $94,319 $97,362 $100,458 $103,606 $106,805 $110,054 $113,353
$87,000 $83,483 $86,256 $89,079 $91,953 $94,877 $97,850 $100,871 $103,940 $107,055
$116,000 $78,573 $81,182 $83,839 $86,544 $89,296 $92,094 $94,937 $97,826 $100,758
$145,000 $73,662 $76,108 $78,599 $81,135 $83,715 $86,338 $89,004 $91,712 $94,461
$174,000 $68,751 $71,034 $73,359 $75,726 $78,134 $80,582 $83,070 $85,598 $88,163
$203,000 $63,840 $65,960 $68,119 $70,317 $72,553 $74,826 $77,137 $79,483 $81,866
$232,000 $58,929 $60,886 $62,879 $64,908 $66,972 $69,070 $71,203 $73,369 $75,568
$261,000 $54,019 $55,812 $57,639 $59,499 $61,391 $63,315 $65,269 $67,255 $69,271
$290,000 $49,108 $50,739 $52,399 $54,090 $55,810 $57,559 $59,336 $61,141 $62,974
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