How Much You Need To Earn in Each State To Afford a Starter Home With a 7% Mortgage Rate

To keep mortgage payments within 30% of income, this is how much you'd need to earn annually in each state to afford a starter home.

Starter home defined as 25th percentile price threshold in 2024. The estimated 2024 payment assumes a 7% mortgage rate and 10% down (tax and insurance excluded). The 2019 payment assumes a 3.9% mortgage rate and 10% down. Affordability defined as mortgage payments that do not exceed 30% of income.
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