How much money do you need to make to afford a $600k house? (answered)
June 22, 2026
r/NewbHomebuyer
I just made a spreadsheet for this based on 3 rules. Ramsey's rules, 30% gross, and 49.99% gross (that 49.99% is the amount a lender will approve. Approval doesn't mean affordable)
Part 1: Minimum for a lender
This is the bare minimum a lender would let you scrape by on, using the 49.99% back-end DTI ceiling that Fannie and Freddie allow. With no other debt (like credit cards, student loans, car loans etc). It doesn't mean you can afford it, and it doesn't always mean you'd get approved either. It's just the max DTI threshold I've seen get approved.
| State | Minimum Income |
|---|---|
| NJ | $123,066 |
| IL | $121,426 |
| TX | $119,945 |
| CT | $119,465 |
| NE | $118,145 |
| NH | $116,145 |
| VT | $115,785 |
| KS | $114,704 |
| NY | $114,544 |
| IA | $113,424 |
| WI | $113,304 |
| RI | $112,144 |
| OH | $112,104 |
| MI | $111,864 |
| SD | $111,064 |
| PA | $110,864 |
| FL | $110,103 |
| OK | $109,983 |
| ME | $109,103 |
| MA | $108,223 |
| MN | $108,143 |
| AK | $107,143 |
| MD | $106,463 |
| MO | $106,343 |
| ND | $105,943 |
| GA | $105,622 |
| KY | $104,902 |
| MS | $104,862 |
| IN | $104,382 |
| AR | $104,262 |
| MT | $104,262 |
| NM | $104,182 |
| OR | $104,142 |
| NC | $103,862 |
| WA | $103,662 |
| VA | $103,222 |
| LA | $103,182 |
| CA | $102,782 |
| TN | $102,222 |
| CO | $102,182 |
| AZ | $101,862 |
| ID | $101,222 |
| SC | $101,022 |
| WY | $100,742 |
| WV | $100,341 |
| DE | $100,301 |
| NV | $100,181 |
| UT | $99,941 |
| AL | $99,381 |
| HI | $96,861 |
Part 2: The minimum income needed for the Ramsey 25% net take-home rule
This one factors in property taxes, homeowners insurance, state income tax, federal tax, FICA, and a 6% 401k contribution. That's why no-income-tax states like TX and FL come out lower than states like NJ or CA, even at similar home prices.
| State | Minimum Income |
|---|---|
| NJ | $450,269 |
| CT | $405,971 |
| VT | $404,697 |
| IL | $398,827 |
| NE | $398,399 |
| WI | $386,961 |
| NY | $386,139 |
| MN | $382,278 |
| KS | $378,920 |
| IA | $375,448 |
| RI | $371,226 |
| ME | $367,320 |
| OR | $366,461 |
| TX | $362,201 |
| MI | $359,115 |
| CA | $356,889 |
| OH | $355,415 |
| OK | $355,297 |
| MA | $350,330 |
| NH | $349,265 |
| PA | $348,404 |
| MD | $348,361 |
| HI | $344,212 |
| GA | $343,036 |
| MO | $342,183 |
| MT | $341,014 |
| NM | $340,713 |
| MS | $337,897 |
| VA | $336,214 |
| AR | $335,094 |
| KY | $332,266 |
| SD | $331,971 |
| SC | $331,765 |
| DE | $330,212 |
| NC | $329,893 |
| ID | $329,005 |
| FL | $328,703 |
| ND | $327,647 |
| LA | $327,410 |
| IN | $325,096 |
| CO | $324,593 |
| WV | $321,843 |
| AK | $318,627 |
| UT | $317,757 |
| AL | $317,619 |
| AZ | $313,179 |
| WA | $306,780 |
| TN | $301,878 |
| WY | $296,839 |
| NV | $294,933 |
Part 3: The 30%-of-your-gross rule
The middle ground rule of thumb. Doesn't account for taxes or anything else. Just 30% of your gross income goes to housing.
| State | Minimum Income |
|---|---|
| NJ | $205,069 |
| IL | $202,336 |
| TX | $199,869 |
| CT | $199,069 |
| NE | $196,869 |
| NH | $193,536 |
| VT | $192,936 |
| KS | $191,136 |
| NY | $190,869 |
| IA | $189,002 |
| WI | $188,802 |
| RI | $186,869 |
| OH | $186,802 |
| MI | $186,402 |
| SD | $185,069 |
| PA | $184,736 |
| FL | $183,469 |
| OK | $183,269 |
| ME | $181,802 |
| MA | $180,336 |
| MN | $180,202 |
| AK | $178,536 |
| MD | $177,402 |
| MO | $177,202 |
| ND | $176,536 |
| GA | $176,002 |
| KY | $174,802 |
| MS | $174,736 |
| IN | $173,936 |
| AR | $173,736 |
| MT | $173,736 |
| NM | $173,602 |
| OR | $173,536 |
| NC | $173,069 |
| WA | $172,736 |
| VA | $172,002 |
| LA | $171,936 |
| CA | $171,269 |
| TN | $170,336 |
| CO | $170,269 |
| AZ | $169,736 |
| ID | $168,669 |
| SC | $168,336 |
| WY | $167,869 |
| WV | $167,202 |
| DE | $167,136 |
| NV | $166,936 |
| UT | $166,536 |
| AL | $165,602 |
| HI | $161,402 |
Part 4: Combined so you can see it all side by side
| State | Lender | 30% Gross | 25% Net |
|---|---|---|---|
| NJ | $123,066 | $205,069 | $450,269 |
| IL | $121,426 | $202,336 | $398,827 |
| TX | $119,945 | $199,869 | $362,201 |
| CT | $119,465 | $199,069 | $405,971 |
| NE | $118,145 | $196,869 | $398,399 |
| NH | $116,145 | $193,536 | $349,265 |
| VT | $115,785 | $192,936 | $404,697 |
| KS | $114,704 | $191,136 | $378,920 |
| NY | $114,544 | $190,869 | $386,139 |
| IA | $113,424 | $189,002 | $375,448 |
| WI | $113,304 | $188,802 | $386,961 |
| RI | $112,144 | $186,869 | $371,226 |
| OH | $112,104 | $186,802 | $355,415 |
| MI | $111,864 | $186,402 | $359,115 |
| SD | $111,064 | $185,069 | $331,971 |
| PA | $110,864 | $184,736 | $348,404 |
| FL | $110,103 | $183,469 | $328,703 |
| OK | $109,983 | $183,269 | $355,297 |
| ME | $109,103 | $181,802 | $367,320 |
| MA | $108,223 | $180,336 | $350,330 |
| MN | $108,143 | $180,202 | $382,278 |
| AK | $107,143 | $178,536 | $318,627 |
| MD | $106,463 | $177,402 | $348,361 |
| MO | $106,343 | $177,202 | $342,183 |
| ND | $105,943 | $176,536 | $327,647 |
| GA | $105,622 | $176,002 | $343,036 |
| KY | $104,902 | $174,802 | $332,266 |
| MS | $104,862 | $174,736 | $337,897 |
| IN | $104,382 | $173,936 | $325,096 |
| AR | $104,262 | $173,736 | $335,094 |
| MT | $104,262 | $173,736 | $341,014 |
| NM | $104,182 | $173,602 | $340,713 |
| OR | $104,142 | $173,536 | $366,461 |
| NC | $103,862 | $173,069 | $329,893 |
| WA | $103,662 | $172,736 | $306,780 |
| VA | $103,222 | $172,002 | $336,214 |
| LA | $103,182 | $171,936 | $327,410 |
| CA | $102,782 | $171,269 | $356,889 |
| TN | $102,222 | $170,336 | $301,878 |
| CO | $102,182 | $170,269 | $324,593 |
| AZ | $101,862 | $169,736 | $313,179 |
| ID | $101,222 | $168,669 | $329,005 |
| SC | $101,022 | $168,336 | $331,765 |
| WY | $100,742 | $167,869 | $296,839 |
| WV | $100,341 | $167,202 | $321,843 |
| DE | $100,301 | $167,136 | $330,212 |
| NV | $100,181 | $166,936 | $294,933 |
| UT | $99,941 | $166,536 | $317,757 |
| AL | $99,381 | $165,602 | $317,619 |
| HI | $96,861 | $161,402 | $344,212 |
I write educational posts on buying your home for the first time. r/NewbHomebuyer
Originally shared by u/SamTMortgageBroker in r/NewbHomebuyer — view the original thread.