Income to Afford a $740,000 House

How much do you need to make to be able to afford a house that costs $740,000?
Purchase Price
$
Down Payment
$
Interest Rate
%
Term of Loan
Pct. of Income
(for Housing)
%
To afford a house that costs $740,000 with a down payment of $148,000, you'd need to earn $110,418 per year before tax.
The monthly mortgage payment would be $2,576.

Salary needed for 740,000 dollar mortgage.

This page will calculate how much you need to earn to buy a house that costs $740,000. 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 $740,000 house?
Down Payment 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50%
$0 $125,310 $129,471 $133,709 $138,023 $142,411 $146,874 $151,409 $156,015 $160,692
$37,000 $119,044 $122,997 $127,023 $131,121 $135,291 $139,530 $143,838 $148,214 $152,657
$74,000 $112,779 $116,524 $120,338 $124,220 $128,170 $132,186 $136,268 $140,414 $144,622
$111,000 $106,513 $110,050 $113,652 $117,319 $121,050 $124,843 $128,698 $132,613 $136,588
$148,000 $100,248 $103,577 $106,967 $110,418 $113,929 $117,499 $121,127 $124,812 $128,553
$185,000 $93,982 $97,103 $100,282 $103,517 $106,808 $110,155 $113,557 $117,011 $120,519
$222,000 $87,717 $90,630 $93,596 $96,616 $99,688 $102,812 $105,986 $109,211 $112,484
$259,000 $81,451 $84,156 $86,911 $89,715 $92,567 $95,468 $98,416 $101,410 $104,450
$296,000 $75,186 $77,682 $80,225 $82,814 $85,447 $88,124 $90,845 $93,609 $96,415
$333,000 $68,920 $71,209 $73,540 $75,912 $78,326 $80,781 $83,275 $85,808 $88,380
$370,000 $62,655 $64,735 $66,854 $69,011 $71,206 $73,437 $75,704 $78,008 $80,346
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