Determining how much home you can afford takes more than just plugging numbers into a loan calculator. You'll want to consider taxes, insurance, mortgage insurance, down payment, and more.We took all this into consideration to estimate how much you need to make to buy a $200k, $300k, or $400k home.For all calculations, we’ll assume property taxes of 1% of the home price per year and $125 per month in homeowner’s insurance, and mortgage insurance rates from MGIC. See the full methodology at the end of this article.Related: Income-Based Mortgage Calculator. Estimate How Much You Can Afford See if You Qualify for a 2024 Conventional Loan How Much Income Do You Need to Buy a $200,000 House?With a 5% down payment and an interest rate of 7.158% (the average according to Mortgage Research Center’s rate tracker at the time of writing), you will want to earn at least $4,544 per month – $54,528 per year – to buy a $200,000 house. This is based on an estimated monthly mortgage payment of $1,636.I...