What salary do you need for a $350K house?
At this week’s average rate of 7.03%, a $350,000 home with 20% down costs about $2,339 a month including taxes and insurance. Keeping that at 36% of gross income takes about $77,978 a year.
Income needed by down payment
| Down payment | Loan | Monthly payment | Income (36%) | Income (43%) |
|---|---|---|---|---|
| 3.5% ($12,250) | $337,750 | $2,978 | $99,267 | $83,107 |
| 5% ($17,500) | $332,500 | $2,884 | $96,121 | $80,473 |
| 10% ($35,000) | $315,000 | $2,704 | $90,138 | $75,464 |
| 20% ($70,000) | $280,000 | $2,339 | $77,978 | $65,283 |
Where homes typically sell for about this price
| State | ZIP codes with a median sale price within 10% |
|---|---|
| Texas | 233 |
| Florida | 228 |
| Pennsylvania | 192 |
| New York | 171 |
| Wisconsin | 169 |
| North Carolina | 153 |
| Michigan | 143 |
| Minnesota | 137 |
How we calculated it
We used a 30-year fixed rate of 7.03% (Freddie Mac’s weekly average for the week of 2026-09-24), 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 $350,000 house?
About $77,978 a year with 20% down, or about $99,267 with 3.5% down, at a 7.03% 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%.