Salary needed

What salary do you need for a $250K house?

At this week’s average rate of 7.28%, a $250,000 home with 20% down costs about $1,748 a month including taxes and insurance. Keeping that at 36% of gross income takes about $58,253 a year.

Income needed, 20% down$58,25336% of gross income
Monthly payment, 20% down$1,748Principal, interest, taxes, insurance
Stretch income, 20% down$48,77043% of gross income
Use your own taxes, debts and rateIncome needed calculator

Income needed by down payment

Down paymentLoanMonthly paymentIncome (36%)Income (43%)
3.5% ($8,750)$241,250$2,211$73,692$61,696
5% ($12,500)$237,500$2,143$71,424$59,797
10% ($25,000)$225,000$2,012$67,080$56,160
20% ($50,000)$200,000$1,748$58,253$48,770

Where homes typically sell for about this price

StateZIP codes with a median sale price within 10%
Texas293
Pennsylvania217
Ohio189
New York177
Michigan171
Indiana143
Missouri133
Illinois119

How we calculated it

We used a 30-year fixed rate of 7.28% (Freddie Mac’s weekly average for the week of 2026-10-01), property taxes of 1.1% of the price a year (close to the national typical rate), $1,800 a year for insurance and estimated mortgage insurance under 20% down. Your taxes can be far higher or lower depending on where you buy; the income needed calculator lets you use your own numbers.

Questions

How much do I need to make to afford a $250,000 house?

About $58,253 a year with 20% down, or about $73,692 with 3.5% down, at a 7.28% rate with typical taxes and insurance.

What share of income should go to housing?

A common guideline keeps housing plus other debts at or below 36% of gross income. Many lenders approve up to about 43%.