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 by down payment
| Down payment | Loan | Monthly payment | Income (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
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%.