Know the home price you’re targeting? This hub works backward — from home price to the income you need. Every guide below includes 10% and 20% down scenarios, current-rate payment breakdowns, and income requirements.
Income Required by Home Price (2026 Rates)
At 6.5% rate, 30-year fixed, including estimated property taxes and insurance:
| Home Price | 20% Down | Loan Amount | Monthly Payment | Income Needed (28%) |
|---|---|---|---|---|
| $200,000 | $40,000 | $160,000 | ~$1,600 | ~$69,000 |
| $250,000 | $50,000 | $200,000 | ~$1,950 | ~$84,000 |
| $300,000 | $60,000 | $240,000 | ~$2,300 | ~$99,000 |
| $350,000 | $70,000 | $280,000 | ~$2,640 | ~$113,000 |
| $400,000 | $80,000 | $320,000 | ~$2,980 | ~$128,000 |
| $450,000 | $90,000 | $360,000 | ~$3,320 | ~$142,000 |
| $500,000 | $100,000 | $400,000 | ~$3,660 | ~$157,000 |
| $600,000 | $120,000 | $480,000 | ~$4,340 | ~$186,000 |
| $700,000 | $140,000 | $560,000 | ~$5,020 | ~$215,000 |
| $750,000 | $150,000 | $600,000 | ~$5,360 | ~$230,000 |
| $800,000 | $160,000 | $640,000 | ~$5,700 | ~$244,000 |
| $900,000 | $180,000 | $720,000 | ~$6,380 | ~$273,000 |
| $1,000,000 | $200,000 | $800,000 | ~$7,060 | ~$303,000 |
Monthly payment includes estimated taxes (1.1% avg) and insurance (0.5% avg). PMI not included (assumes 20% down).
With 10% Down: How PMI Changes the Numbers
With 10% down, you borrow more and pay PMI (approx. 0.7% of loan amount annually):
| Home Price | 10% Down | Loan Amount | PMI/month | Total Monthly | Income Needed (28%) |
|---|---|---|---|---|---|
| $300,000 | $30,000 | $270,000 | ~$158 | ~$2,600 | ~$111,000 |
| $400,000 | $40,000 | $360,000 | ~$210 | ~$3,400 | ~$146,000 |
| $500,000 | $50,000 | $450,000 | ~$263 | ~$4,200 | ~$180,000 |
| $600,000 | $60,000 | $540,000 | ~$315 | ~$5,000 | ~$214,000 |
PMI drops off once you reach 20% equity — typically after 5–8 years depending on appreciation and extra payments.
What Counts as “Income” to a Lender
Lenders accept multiple income sources:
- W-2 wages — 2 years of consistent employment preferred
- Self-employment income — 2-year average from tax returns (Schedule C/K-1), net of business expenses
- Rental income — typically 75% of gross rent (to account for vacancies)
- Investment/retirement income — dividend income, distributions, pension payments
- Child support / alimony — counted if documented and likely to continue 3+ years
If your qualifying income is below the threshold for your target price, the most effective levers are: larger down payment (reduces loan amount), lower debt-to-income ratio (pay off debts), or co-borrower with additional income.
Price-Specific Income Guides
- Income Needed for a $200K House
- Income Needed for a $250K House
- Income Needed for a $300K House
- Income Needed for a $350K House
- Income Needed for a $400K House
- Income Needed for a $450K House
- Income Needed for a $500K House
- Income Needed for a $550K House
- Income Needed for a $600K House
- Income Needed for a $650K House
- Income Needed for a $700K House
- Income Needed for a $750K House
- Income Needed for a $800K House
- Income Needed for a $900K House
- Income Needed for a $1 Million House
Related Hubs
- Affordability by Salary — how much house you can buy on your income
- Affordability by City & State — what these prices look like in your market
- Home Affordability Guide — full 28/36 rule and down payment analysis
- Monthly Payments Hub — exact payment for any loan amount
- Mortgages Hub — complete mortgage guide
The content on Wealthvieu is for informational purposes only and should not be considered financial, tax, or investment advice. Consult a qualified professional before making financial decisions. Full disclaimer · Editorial policy