Many people, including first-time buyers, don’t think they’ll be able to buy a home in 2024 because the market is so unstable. This includes people who want to move, downsize, or just get a home that better fits their needs.

The high cost of living, the lack of supply, the high demand, foreign buyers making cash offers, investors buying up all the affordable homes, and wages that aren’t rising with the market are just a few of the things that make it hard to buy a home.

But it’s important not to give up and to think about all of your choices. Working hard to save for a bigger down payment can pay off in the long run, and moving might not be a bad idea if the life you want isn’t available where you live.

If you are considering the last option, **GOBankingRates** has done research on the average home value and monthly mortgage for each state in 2024 (using a 30-year fixed-rate mortgage and a 20% down payment) and has come up with a way to find the lowest salary needed to comfortably buy a home in each state.

This study has found a lot of good things. For example, you can buy a home in 42 states even if your yearly income is less than $100,000. We hope that the list below helps you find a choice that you would not have thought of otherwise.

## Minimum salary needed by state

**Hawaii’s** 2024 **average home value** is $967,270. Subtracting a 20% **down payment** would mean a** loan amount** of $773,816.01. This would give a** monthly mortgage** of $5,055.01, for a** total annual payment** of $60,660.18. The **minimum salary** needed to comfortably afford a home in this state is $202,200.59.

**California’s** 2024 **average home value** is $785,333. Subtracting a 20% **down payment** would mean a** loan amount** of $628,266.60. This would give a **monthly mortgage** of $4,104.20, for a** total annual payment** of $49,250.42. The **minimum salary** needed to comfortably afford a home in this state is $164,168.07.

**District of Columbia’s** 2024 **average home value** is $718,017. Subtracting a 20% **down payment** would mean a loan amount of $574,413.51. This would give a **monthly mortgage** of $3,752.40, for a** total annual payment** of $45,028.82. The **minimum salary** needed to comfortably afford a home in this state is $150,096.08.

**Massachusetts’** 2024 **average home value** is $615,963. Subtracting a 20% **down payment** would mean a loan amount of $492,770.08. This would give a **monthly mortgage** of $3,219.06, for a **total annual payment** of $38,628.72. The **minimum salary** needed to comfortably afford a home in this state is $128,762.39.

**Washington’s** 2024 **average home value** is $589,240. Subtracting a 20% **down payment** would mean a loan amount of $471,391.97. This would give a **monthly mortgage** of $3,079.41, for a **total annual payment** of $36,952.87. The **minimum salary** needed to comfortably afford a home in this state is $123,176.22.

**Colorado’s** 2024** average home value** is $550,945. Subtracting a 20% **down payment** would mean a loan amount of $440,755.61. This would give a **monthly mortgage** of $2,879.27, for a** total annual payment** of $34,551.25. The **minimum salary** needed to comfortably afford a home in this state is $115,170.84.

**Utah’s** 2024 **average home value** is $519,376. Subtracting a 20% **down payment** would mean a loan amount of $415,500.51. This would give a** monthly mortgage** of $2,714.29, for a **total annual payment** of $32,571.48. The** minimum salary** needed to comfortably afford a home in this state is $108,571.61.

**New Jersey’s** 2024** average home value** is $518,053. Subtracting a 20% **down payment** would mean a loan amount of $414,442.38. This would give a **monthly mortgage** of $2,707.38, for a** total annual payment** of $32,488.53. The **minimum salary** needed to comfortably afford a home in this state is $108,295.12.

**Oregon’s** 2024 **average home value** is $494,672. Subtracting a 20%** down payment** would mean a loan amount of $395,737.41. This would give a** monthly mortgage** of $2,585.19, for a** total annual payment** of $31,022.23. The **minimum salary** needed to comfortably afford a home in this state is $103,407.45.

**New Hampshire’s** 2024 **average home value** is $474,549. Subtracting a 20% **down payment** would mean a loan amount of $379,639.47. This would give a** monthly mortgage** of $2,480.03, for a **total annual payment** of $29,760.30. The **minimum salary** needed to comfortably afford a home in this state is $99,201.

**Montana’s** 2024 **average home value** is $449,576. Subtracting a 20% **down payment** would mean a loan amount of $359,660.62. This would give a **monthly mortgage** of $2,349.51, for a **total annual payment** of $28,194.14. The **minimum salary** needed to comfortably afford a home in this state is $93,980.47.

**Rhode Island’s** 2024** average home value** is $448,030. Subtracting a 20% **down payment** would mean a loan amount of $358,423.82. This would give a **monthly mortgage** of $2,341.43, for a **total annual payment** of $28,097.19. The **minimum salary** needed to comfortably afford a home in this state is $93,657.29.

**Idaho’s** 2024** average home value** is $443,343. Subtracting a 20% **down payment** would mean a loan amount of $354,674.23. This would give a **monthly mortgage** of $2,316.94, for a** total annual payment** of $27,803.25. The **minimum salary** needed to comfortably afford a home in this state is $92,677.51.

**Nevada’s** 2024 **average home value** is $441,049. Subtracting a 20%** down payment** would mean a loan amount of $352,839.23. This would give a **monthly mortgage** of $2,304.95, for a** total annual payment** of $27,659.40. The** minimum salary** needed to comfortably afford a home in this state is $92,198.02.

**Arizona’s** 2024 **average home value** is $436,020. Subtracting a 20% **down payment** would mean a loan amount of $348,816.14. This would give a **monthly mortgage** of $2,278.67, for a** total annual payment** of $27,344.03. The **minimum salary** needed to comfortably afford a home in this state is $91,146.77.

**New York’s** 2024 **average home value** is $427,542. Subtracting a 20% **down payment** would mean a loan amount of $342,033.83. This would give a** monthly mortgage** of $2,234.36, for a** total annual payment** of $26,812.36. The **minimum salary** needed to comfortably afford a home in this state is $89,374.53.

**Maryland’s** 2024 **average home value** is $417,676. Subtracting a 20% **down payment** would mean a loan amount of $334,141.09. This would give a **monthly mortgage** of $2,182.80, for a** total annual payment** of $26,193.64. The **minimum salary** needed to comfortably afford a home in this state is $87,312.13.

**Florida’s** 2024 **average home value** is $409,179. Subtracting a 20% **down payment** would mean a loan amount of $327,342.96. This would give a **monthly mortgage** of $2,138.39, for a** total annual payment** of $25,660.73. The** minimum salary** needed to comfortably afford a home in this state is $85,535.76.

**Connecticut’s** 2024 **average home value** is $408,726. Subtracting a 20% **down payment** would mean a loan amount of $326,980.48. This would give a **monthly mortgage** of $2,136.03, for a **total annual payment** of $25,632.31. The **minimum salary** needed to comfortably afford a home in this state is $85,441.04.

**Virginia’s** 2024 **average home value** is $382,770. Subtracting a 20% **down payment** would mean a loan amount of $306,215.77. This would give a **monthly mortgage** of $2,000.38, for a **total annual payment** of $24,004.55. The **minimum salary** needed to comfortably afford a home in this state is $80,015.16.

**Maine’s** 2024 **average home value** is $378,605. Subtracting a 20% **down payment** would mean a loan amount of $302,884.39. This would give a** monthly mortgage** of $1,978.62, for a **total annual payment** of $23,743.40. The** minimum salary** needed to comfortably afford a home in this state is $79,144.66.

**Vermont’s** 2024 **average home value** is $376,350. Subtracting a 20% **down payment** would mean a loan amount of $301,079.61. This would give a **monthly mortgage** of $1,966.83, for a** total annual payment** of $23,601.92. The **minimum salary** needed to comfortably afford a home in this state is $78,673.06.

**Delaware’s** 2024** average home value** is $371,809. Subtracting a 20% **down payment** would mean a loan amount of $297,447.07. This would give a **monthly mortgage** of $1,943.10, for a** total annual payment** of $23,317.16. The **minimum salary** needed to comfortably afford a home in this state is $77,723.87.

**Alaska’s** 2024 **average home value** is $362,178. Subtracting a 20%** down payment** would mean a loan amount of $289,742.01. This would give a **monthly mortgage** of $1,892.76, for a** total annual payment** of $22,713.15. The **minimum salary** needed to comfortably afford a home in this state is $75,710.51.

**Wyoming’s** 2024 **average home value** is $333,617. Subtracting a 20% **down payment** would mean a loan amount of $266,893.71. This would give a **monthly mortgage** of $1,743.50, for a** total annual payment** of $20,922.05. The **minimum salary** needed to comfortably afford a home in this state is $69,740.18.

**Minnesota’s** 2024** average home value** is $328,582. Subtracting a 20% **down payment** would mean a loan amount of $262,865.66. This would give a **monthly mortgage** of $1,717.19, for a **total annual payment** of $20,606.29. The** minimum salary** needed to comfortably afford a home in this state is $68,687.63.

**North Carolina’s** 2024** average home value** is $323,913. Subtracting a 20% **down payment** would mean a loan amount of $259,130.69. This would give a **monthly mortgage** of $1,692.79, for a** total annual payment** of $20,313.50. The** minimum salary** needed to comfortably afford a home in this state is $67,711.68.

**Georgia’s** 2024 **average home value** is $323,033. Subtracting a 20% **down payment** would mean a loan amount of $258,426.54. This would give a** monthly mortgage** of $1,688.19, for a **total annual payment** of $20,258.30. The **minimum salary** needed to comfortably afford a home in this state is $67,527.68.

**Tennessee’s** 2024** average home value** is $310,011. Subtracting a 20%** down payment** would mean a loan amount of $248,008.95. This would give a** monthly mortgage** of $1,620.14, for a **total annual payment** of $19,441.66. The **minimum salary** needed to comfortably afford a home in this state is $64,805.53.

**Texas’s** 2024 **average home value** is $299,337. Subtracting a 20% **down payment** would mean a loan amount of $239,469.29. This would give a** monthly mortgage** of $1,564.35, for a** total annual payment** of $18,772.23. The** minimum salary** needed to comfortably afford a home in this state is $62,574.09.

**New Mexico’s** 2024 **average home value** is $293,497. Subtracting a 20% **down payment** would mean a loan amount of $234,797.31. This would give a** monthly mortgage** of $1,533.83, for a **total annual payment** of $18,405.99. The **minimum salary** needed to comfortably afford a home in this state is $61,353.28.

**South Dakota’s** 2024** average home value** is $310,011. Subtracting a 20% **down payment** would mean a loan amount of $248,008.95. This would give a **monthly mortgage** of $1,620.14, for a** total annual payment** of $19,441.66. The** minimum salary** needed to comfortably afford a home in this state is $64,805.53.

**South Carolina’s** 2024 **average home value** is $288,972. Subtracting a 20% **down payment** would mean a loan amount of $231,177.22. This would give a** monthly mortgage** of $1,510.18, for a** total annual payment** of $18,122.20. The **minimum salary** needed to comfortably afford a home in this state is $60,407.34.

**Wisconsin’s** 2024 **average home value** is $288,799. Subtracting a 20%** down payment** would mean a loan amount of $231,039.10. This would give a** monthly mortgage** of $1,509.28, for a **total annual payment** of $18,111.38. The** minimum salary** needed to comfortably afford a home in this state is $60,371.25.

**Pennsylvania’s** 2024 **average home value** is $256,401. Subtracting a 20% **down payment** would mean a loan amount of $205,121.11. This would give a **monthly mortgage** of $1,339.97, for a **total annual payment** of $16,079.64. The** minimum salary** needed to comfortably afford a home in this state is $53,598.80.

**Illinois’s** 2024 **average home value** is $254,709. Subtracting a 20% **down payment** would mean a loan amount of $203,766.85. This would give a **monthly mortgage** of $1,331.12, for a **total annual payment** of $15,973.48. The **minimum salary** needed to comfortably afford a home in this state is $53,244.93.

**North Dakota’s** 2024 **average home value** is $252,382. Subtracting a 20% **down payment** would mean a loan amount of $201,905.21. This would give a** monthly mortgage** of $1,318.96, for a** total annual payment** of $15,827.54. The** minimum salary** needed to comfortably afford a home in this state is $52,758.47.

**Nebraska’s** 2024** average home value** is $251,535. Subtracting a 20% **down payment** would mean a loan amount of $201,227.60. This would give a **monthly mortgage** of $1,314.54, for a **total annual payment** of $15,774.42. The **minimum salary** needed to comfortably afford a home in this state is $52,581.41.

**Missouri’s** 2024 **average home value** is $238,808. Subtracting a 20% **down payment** would mean a loan amount of $191,046.19. This would give a** monthly mortgage** of $1,248.02, for a **total annual payment** of $14,976.29. The** minimum salary** needed to comfortably afford a home in this state is $49,920.98.

**Indiana’s** 2024 **average home value** is $231,278. Subtracting a 20% **down payment** would mean a loan amount of $185,022.36. This would give a **monthly mortgage** of $1,208.67, for a** total annual payment** of $14,504.08. The **minimum salary** needed to comfortably afford a home in this state is $48,346.93.

**Michigan’s** 2024** average home value** is $230,125. Subtracting a 20% **down payment** would mean a loan amount of $184,100.13. This would give a** monthly mortgage** of $1,202.65, for a** total annual payment** of $14,431.79. The** minimum salary** needed to comfortably afford a home in this state is $48,105.95.

**Ohio’s** 2024** average home value** is $218,535. Subtracting a 20% **down payment** would mean a loan amount of $174,828.27. This would give a** monthly mortgage** of $1,142.08, for a** total annual payment** of $13,704.95. The** minimum salary** needed to comfortably afford a home in this state is $45,683.18.

**Alabama’s** 2024** average home value** is $218,004. Subtracting a 20% **down payment** would mean a loan amount of $174,402.99. This would give a** monthly mortgage** of $1,139.30, for a** total annual payment** of $13,671.62. The **minimum salary** needed to comfortably afford a home in this state is $45,572.06.

**Kansas’s** 2024 **average home value** is $217,817. Subtracting a 20%** down payment** would mean a loan amount of $174,253.38. This would give a **monthly mortgage** of $1,138.32, for a** total annual payment** of $13,659.89. The **minimum salary** needed to comfortably afford a home in this state is $45,532.96.

**Iowa’s** 2024 **average home value** is $212,367. Subtracting a 20% **down payment** would mean a loan amount of $169,893.59. This would give a **monthly mortgage** of $1,109.84, for a **total annual payment** of $13,318.12. The **minimum salary** needed to comfortably afford a home in this state is $44,393.74.

**Oklahoma’s** 2024** average home value** is $200,153. Subtracting a 20%** down payment** would mean a loan amount of $160,122.28. This would give a** monthly mortgage** of $1,046.01, for a **total annual payment** of $12,552.14. The **minimum salary** needed to comfortably afford a home in this state is $41,840.46.

**Arkansas’s** 2024** average home value** is $198,364. Subtracting a 20% **down payment** would mean a loan amount of $158,691.21. This would give a** monthly mortgage** of $1,036.66, for a **total annual payment** of $12,439.96. The **minimum salary** needed to comfortably afford a home in this state is $41,466.52.

**Kentucky’s** 2024 **average home value** is $196,412. Subtracting a 20% **down payment** would mean a loan amount of $157,129.67. This would give a **monthly mortgage** of $1,026.46, for a **total annual payment** of $12,317.55. The **minimum salary** needed to comfortably afford a home in this state is $41,058.48.

**Louisiana’s** 2024** average home value** is $195,240. Subtracting a 20% **down payment** would mean a loan amount of $156,191.93. This would give a **monthly mortgage** of $1,020.34, for a** total annual payment** of $12,244.03. The **minimum salary** needed to comfortably afford a home in this state is $40,813.45.

**Mississippi’s** 2024 **average home value** is $170,653. Subtracting a 20% **down payment** would mean a loan amount of $136,522.65. This would give a** monthly mortgage** of $891.85, for a** total annual payment** of $10,702.14. The** minimum salary** needed to comfortably afford a home in this state is $35,673.80.

**West Virginia’s** 2024 **average home value** is $155,080. Subtracting a 20% **down payment** would mean a loan amount of $124,064.28. This would give a **monthly mortgage** of $810.46, for a **total annual payment** of $9,725.52. The **minimum salary** needed to comfortably afford a home in this state is $32,418.39.

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