Here's How Much You'd Need To Earn To Buy the Median Home in Your State
Homeownership is still one of the best ways to build long-term wealth. But right now, it requires a paycheck that many Americans just can’t afford. Mortgage rates are hovering above 6.5%, home values have soared in almost every state since 2020 lows, and the gap between wages and home prices has grown significantly. For most people, it’s not even a question of, “Can I afford a down payment?” It’s, “Do I make enough to qualify at all?”
To find out where that bar sits in each state, MoneyLion used Census data to calculate the minimum annual income a household would need to be able to afford the median-priced home in that state without exceeding 28% of gross income for total monthly housing costs. Keep reading to see where your state lands.
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Alabama
Median home price: $236,705
Median household income: $65,560
Income needed to buy: $70,226
Monthly PITI: $1,639
Affordability gap: +$4,666
Alaska
Median home price: $390,107
Median household income: $91,260
Income needed to buy: $102,847
Monthly PITI: $2,400
Affordability gap: +$11,587
Arizona
Median home price: $423,746
Median household income: $84,700
Income needed to buy: $110,518
Monthly PITI: $2,579
Affordability gap: +$25,818
Arkansas
Median home price: $222,300
Median household income: $64,840
Income needed to buy: $70,785
Monthly PITI: $1,652
Affordability gap: +$5,945
California
Median home price: $776,233
Median household income: $100,600
Income needed to buy: $194,371
Monthly PITI: $4,535
Affordability gap: +$93,771
Colorado
Median home price: $543,271
Median household income: $106,500
Income needed to buy: $141,765
Monthly PITI: $3,308
Affordability gap: +$35,265
Connecticut
Median home price: $441,466
Median household income: $99,240
Income needed to buy: $125,824
Monthly PITI: $2,936
Affordability gap: +$26,584
Delaware
Median home price: $405,836
Median household income: $85,860
Income needed to buy: $98,896
Monthly PITI: $2,308
Affordability gap: +$13,036
Florida
Median home price: $376,504
Median household income: $75,630
Income needed to buy: $104,109
Monthly PITI: $2,429
Affordability gap: +$28,479
Georgia
Median home price: $333,559
Median household income: $81,210
Income needed to buy: $93,797
Monthly PITI: $2,189
Affordability gap: +$12,587
Hawaii
Median home price: $830,219
Median household income: $98,240
Income needed to buy: $196,145
Monthly PITI: $4,577
Affordability gap: +$97,905
Idaho
Median home price: $477,506
Median household income: $81,650
Income needed to buy: $118,805
Monthly PITI: $2,772
Affordability gap: +$37,155
Illinois
Median home price: $290,210
Median household income: $84,210
Income needed to buy: $93,730
Monthly PITI: $2,187
Affordability gap: +$9,520
Indiana
Median home price: $256,584
Median household income: $76,710
Income needed to buy: $74,136
Monthly PITI: $1,730
Affordability gap: -$2,574
Iowa
Median home price: $234,891
Median household income: $85,480
Income needed to buy: $75,162
Monthly PITI: $1,754
Affordability gap: -$10,318
Kansas
Median home price: $246,369
Median household income: $87,690
Income needed to buy: $84,126
Monthly PITI: $1,963
Affordability gap: -$3,564
Kentucky
Median home price: $232,231
Median household income: $64,790
Income needed to buy: $70,424
Monthly PITI: $1,643
Affordability gap: +$5,634
Louisiana
Median home price: $214,727
Median household income: $60,740
Income needed to buy: $59,798
Monthly PITI: $1,395
Affordability gap: -$942
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Maine
Median home price: $412,608
Median household income: $90,730
Income needed to buy: $108,257
Monthly PITI: $2,526
Affordability gap: +$17,527
Maryland
Median home price: $431,934
Median household income: $109,700
Income needed to buy: $115,491
Monthly PITI: $2,695
Affordability gap: +$5,791
Massachusetts
Median home price: $661,755
Median household income: $113,900
Income needed to buy: $172,420
Monthly PITI: $4,023
Affordability gap: +$58,520
Michigan
Median home price: $263,590
Median household income: $79,460
Income needed to buy: $76,093
Monthly PITI: $1,775
Affordability gap: -$3,367
Minnesota
Median home price: $350,891
Median household income: $92,350
Income needed to buy: $101,847
Monthly PITI: $2,376
Affordability gap: +$9,497
Mississippi
Median home price: $194,242
Median household income: $55,980
Income needed to buy: $62,540
Monthly PITI: $1,459
Affordability gap: +$6,560
Missouri
Median home price: $265,398
Median household income: $78,390
Income needed to buy: $79,340
Monthly PITI: $1,851
Affordability gap: +$950
Montana
Median home price: $467,919
Median household income: $81,920
Income needed to buy: $126,362
Monthly PITI: $2,948
Affordability gap: +$44,442
Nebraska
Median home price: $279,080
Median household income: $86,140
Income needed to buy: $95,008
Monthly PITI: $2,217
Affordability gap: +$8,868
Nevada
Median home price: $447,225
Median household income: $80,590
Income needed to buy: $110,726
Monthly PITI: $2,584
Affordability gap: +$30,136
New Hampshire
Median home price: $510,709
Median household income: $111,800
Income needed to buy: $138,995
Monthly PITI: $3,243
Affordability gap: +$27,195
New Jersey
Median home price: $571,373
Median household income: $103,500
Income needed to buy: $160,512
Monthly PITI: $3,745
Affordability gap: +$57,012
New Mexico
Median home price: $317,474
Median household income: $64,140
Income needed to buy: $86,271
Monthly PITI: $2,013
Affordability gap: +$22,131
New York
Median home price: $510,449
Median household income: $86,830
Income needed to buy: $132,020
Monthly PITI: $3,080
Affordability gap: +$45,190
North Carolina
Median home price: $337,273
Median household income: $67,220
Income needed to buy: $91,590
Monthly PITI: $2,137
Affordability gap: +$24,370
North Dakota
Median home price: $286,406
Median household income: $88,080
Income needed to buy: $84,616
Monthly PITI: $1,974
Affordability gap: -$3,464
Ohio
Median home price: $244,844
Median household income: $80,520
Income needed to buy: $72,459
Monthly PITI: $1,691
Affordability gap: -$8,061
Oklahoma
Median home price: $221,765
Median household income: $65,310
Income needed to buy: $81,089
Monthly PITI: $1,892
Affordability gap: +$15,779
Oregon
Median home price: $501,661
Median household income: $89,700
Income needed to buy: $130,193
Monthly PITI: $3,038
Affordability gap: +$40,493
Pennsylvania
Median home price: $286,387
Median household income: $80,060
Income needed to buy: $81,287
Monthly PITI: $1,897
Affordability gap: +$1,227
Rhode Island
Median home price: $504,793
Median household income: $92,290
Income needed to buy: $134,646
Monthly PITI: $3,142
Affordability gap: +$42,356
South Carolina
Median home price: $305,174
Median household income: $76,780
Income needed to buy: $83,781
Monthly PITI: $1,955
Affordability gap: +$7,001
South Dakota
Median home price: $319,255
Median household income: $79,850
Income needed to buy: $96,218
Monthly PITI: $2,245
Affordability gap: +$16,368
Tennessee
Median home price: $334,075
Median household income: $75,860
Income needed to buy: $93,183
Monthly PITI: $2,174
Affordability gap: +$17,323
Texas
Median home price: $302,187
Median household income: $81,490
Income needed to buy: $98,138
Monthly PITI: $2,290
Affordability gap: +$16,648
Utah
Median home price: $540,993
Median household income: $104,000
Income needed to buy: $132,956
Monthly PITI: $3,102
Affordability gap: +$28,956
Vermont
Median home price: $394,227
Median household income: $85,260
Income needed to buy: $107,055
Monthly PITI: $2,498
Affordability gap: +$21,795
Virginia
Median home price: $414,320
Median household income: $97,720
Income needed to buy: $110,142
Monthly PITI: $2,570
Affordability gap: +$12,422
Washington
Median home price: $604,087
Median household income: $97,500
Income needed to buy: $154,862
Monthly PITI: $3,613
Affordability gap: +$57,362
West Virginia
Median home price: $174,876
Median household income: $63,150
Income needed to buy: $49,942
Monthly PITI: $1,165
Affordability gap: -$13,208
Wisconsin
Median home price: $333,909
Median household income: $82,560
Income needed to buy: $95,739
Monthly PITI: $2,234
Affordability gap: +$13,179
Wyoming
Median home price: $363,685
Median household income: $78,680
Income needed to buy: $92,261
Monthly PITI: $2,153
Affordability gap: +$13,581
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Methodology: Income-needed figures were calculated using median home values from the Zillow Home Value Index (ZHVI) as of April 30, 2026. Median household income figures come from the U.S. Census Bureau's American Community Survey (ACS) 2024 one-year estimates via FRED. Property tax rates are effective state-level rates from Bankrate (2024). Homeowners insurance premiums are state averages from NerdWallet (2026). All calculations assume a 20% down payment, a 6.53% 30-year fixed mortgage rate per the Freddie Mac Primary Mortgage Market Survey, and the 28% front-end DTI rule. Monthly payment includes principal, interest, property taxes and insurance (PITI).
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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