What salary do you need for a $150K house?
At this week’s average rate of 7.28%, a $150,000 home with 20% down costs about $1,109 a month including taxes and insurance. Keeping that at 36% of gross income takes about $36,952 a year.
Income needed by down payment
| Down payment | Loan | Monthly payment | Income (36%) | Income (43%) |
|---|---|---|---|---|
| 3.5% ($5,250) | $144,750 | $1,386 | $46,215 | $38,692 |
| 5% ($7,500) | $142,500 | $1,346 | $44,854 | $37,552 |
| 10% ($15,000) | $135,000 | $1,267 | $42,248 | $35,370 |
| 20% ($30,000) | $120,000 | $1,109 | $36,952 | $30,936 |
Where homes typically sell for about this price
| State | ZIP codes with a median sale price within 10% |
|---|---|
| Illinois | 119 |
| Pennsylvania | 107 |
| Iowa | 92 |
| Ohio | 90 |
| Texas | 84 |
| Missouri | 70 |
| West Virginia | 58 |
| New York | 58 |
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 $150,000 house?
About $36,952 a year with 20% down, or about $46,215 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%.