Income to Afford a $840,000 House

How much do you need to make to be able to afford a house that costs $840,000?
Purchase Price
$
Down Payment
$
Interest Rate
%
Term of Loan
Pct. of Income
(for Housing)
%
To afford a house that costs $840,000 with a down payment of $168,000, you'd need to earn $125,339 per year before tax.
The monthly mortgage payment would be $2,925.

Salary needed for 840,000 dollar mortgage.

This page will calculate how much you need to earn to buy a house that costs $840,000. 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 $840,000 house?
Down Payment 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50%
$0 $142,244 $146,967 $151,777 $156,674 $161,656 $166,722 $171,870 $177,098 $182,407
$42,000 $135,131 $139,618 $144,189 $148,841 $153,573 $158,386 $163,276 $168,243 $173,286
$84,000 $128,019 $132,270 $136,600 $141,007 $145,490 $150,049 $154,683 $159,389 $164,166
$126,000 $120,907 $124,922 $129,011 $133,173 $137,408 $141,713 $146,089 $150,534 $155,046
$168,000 $113,795 $117,573 $121,422 $125,339 $129,325 $133,377 $137,496 $141,679 $145,925
$210,000 $106,683 $110,225 $113,833 $117,506 $121,242 $125,041 $128,902 $132,824 $136,805
$252,000 $99,570 $102,877 $106,244 $109,672 $113,159 $116,705 $120,309 $123,969 $127,685
$294,000 $92,458 $95,528 $98,655 $101,838 $105,076 $108,369 $111,715 $115,114 $118,564
$336,000 $85,346 $88,180 $91,066 $94,005 $96,994 $100,033 $103,122 $106,259 $109,444
$378,000 $78,234 $80,832 $83,478 $86,171 $88,911 $91,697 $94,528 $97,404 $100,324
$420,000 $71,122 $73,483 $75,889 $78,337 $80,828 $83,361 $85,935 $88,549 $91,203
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