What salary do you need for a $600K house?
At this week’s average rate of 7.03%, a $600,000 home with 20% down costs about $3,903 a month including taxes and insurance. Keeping that at 36% of gross income takes about $130,104 a year.
Income needed by down payment
| Down payment | Loan | Monthly payment | Income (36%) | Income (43%) |
|---|---|---|---|---|
| 3.5% ($21,000) | $579,000 | $4,998 | $166,601 | $139,480 |
| 5% ($30,000) | $570,000 | $4,836 | $161,207 | $134,964 |
| 10% ($60,000) | $540,000 | $4,529 | $150,951 | $126,377 |
| 20% ($120,000) | $480,000 | $3,903 | $130,104 | $108,925 |
Where homes typically sell for about this price
| State | ZIP codes with a median sale price within 10% |
|---|---|
| California | 161 |
| New York | 116 |
| New Jersey | 114 |
| Washington | 97 |
| Massachusetts | 94 |
| Colorado | 74 |
| Virginia | 73 |
| Florida | 72 |
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 $600,000 house?
About $130,104 a year with 20% down, or about $166,601 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%.