Income to Afford a $850,000 House

How much do you need to make to be able to afford a house that costs $850,000?
Purchase Price
$
Down Payment
$
Interest Rate
%
Term of Loan
Pct. of Income
(for Housing)
%
To afford a house that costs $850,000 with a down payment of $170,000, you'd need to earn $126,832 per year before tax.
The monthly mortgage payment would be $2,959.

Salary needed for 850,000 dollar mortgage.

This page will calculate how much you need to earn to buy a house that costs $850,000. 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 $850,000 house?
Down Payment 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50%
$0 $143,937 $148,716 $153,584 $158,539 $163,581 $168,706 $173,916 $179,207 $184,578
$42,500 $136,740 $141,281 $145,905 $150,612 $155,402 $160,271 $165,220 $170,246 $175,349
$85,000 $129,543 $133,845 $138,226 $142,686 $147,223 $151,836 $156,524 $161,286 $166,120
$127,500 $122,346 $126,409 $130,547 $134,759 $139,043 $143,400 $147,828 $152,326 $156,891
$170,000 $115,150 $118,973 $122,867 $126,832 $130,864 $134,965 $139,132 $143,365 $147,663
$212,500 $107,953 $111,537 $115,188 $118,905 $122,685 $126,530 $130,437 $134,405 $138,434
$255,000 $100,756 $104,102 $107,509 $110,978 $114,506 $118,094 $121,741 $125,445 $129,205
$297,500 $93,559 $96,666 $99,830 $103,051 $106,327 $109,659 $113,045 $116,484 $119,976
$340,000 $86,362 $89,230 $92,151 $95,124 $98,148 $101,224 $104,349 $107,524 $110,747
$382,500 $79,165 $81,794 $84,471 $87,197 $89,969 $92,789 $95,654 $98,564 $101,518
$425,000 $71,968 $74,358 $76,792 $79,270 $81,790 $84,353 $86,958 $89,603 $92,289
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