What salary do you need for a $300K house?
At this week’s average rate of 7.28%, a $300,000 home with 20% down costs about $2,067 a month including taxes and insurance. Keeping that at 36% of gross income takes about $68,904 a year.
Income needed by down payment
| Down payment | Loan | Monthly payment | Income (36%) | Income (43%) |
|---|---|---|---|---|
| 3.5% ($10,500) | $289,500 | $2,623 | $87,431 | $73,198 |
| 5% ($15,000) | $285,000 | $2,541 | $84,709 | $70,919 |
| 10% ($30,000) | $270,000 | $2,385 | $79,496 | $66,555 |
| 20% ($60,000) | $240,000 | $2,067 | $68,904 | $57,687 |
Where homes typically sell for about this price
| State | ZIP codes with a median sale price within 10% |
|---|---|
| Texas | 294 |
| Pennsylvania | 225 |
| Florida | 195 |
| New York | 189 |
| Ohio | 177 |
| North Carolina | 158 |
| Michigan | 155 |
| Wisconsin | 147 |
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 $300,000 house?
About $68,904 a year with 20% down, or about $87,431 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%.