Income to Afford a $685,000 House

How much do you need to make to be able to afford a house that costs $685,000?
Purchase Price
$
Down Payment
$
Interest Rate
%
Term of Loan
Pct. of Income
(for Housing)
%
To afford a house that costs $685,000 with a down payment of $137,000, you'd need to earn $102,211 per year before tax.
The monthly mortgage payment would be $2,385.

Salary needed for 685,000 dollar mortgage.

This page will calculate how much you need to earn to buy a house that costs $685,000. 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 $685,000 house?
Down Payment 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50%
$0 $115,996 $119,848 $123,771 $127,764 $131,827 $135,958 $140,155 $144,419 $148,748
$34,250 $110,196 $113,856 $117,582 $121,376 $125,235 $129,160 $133,148 $137,199 $141,311
$68,500 $104,397 $107,863 $111,394 $114,988 $118,644 $122,362 $126,140 $129,978 $133,873
$102,750 $98,597 $101,871 $105,205 $108,600 $112,053 $115,564 $119,132 $122,757 $126,436
$137,000 $92,797 $95,878 $99,017 $102,211 $105,461 $108,766 $112,124 $115,536 $118,999
$171,250 $86,997 $89,886 $92,828 $95,823 $98,870 $101,968 $105,117 $108,315 $111,561
$205,500 $81,197 $83,894 $86,640 $89,435 $92,279 $95,170 $98,109 $101,094 $104,124
$239,750 $75,398 $77,901 $80,451 $83,047 $85,687 $88,372 $91,101 $93,873 $96,686
$274,000 $69,598 $71,909 $74,263 $76,658 $79,096 $81,575 $84,093 $86,652 $89,249
$308,250 $63,798 $65,916 $68,074 $70,270 $72,505 $74,777 $77,086 $79,431 $81,812
$342,500 $57,998 $59,924 $61,885 $63,882 $65,913 $67,979 $70,078 $72,210 $74,374
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