Mortgage payment on a $80K house
$531 a month with 20% down at 7.11% — including property tax and insurance. You'd need an income of about $22,700.
On a $80,000 home with $16,000 (20%) down, you borrow $64,000. At 7.11% (30-year fixed, Freddie Mac average for the week of Nov 12, 2026), principal and interest come to $431 a month. Adding property tax at the U.S. average of 0.9% ($60) and insurance ($40) gives $531. Over 30 years you would pay $90,992 in interest.
Payment by down payment
Putting less than 20% down means a bigger loan and mortgage insurance, so the monthly payment rises:
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $16,000 | $64,000 | $431 | $0 | $100 | $531 | $22,700 |
| 10% down | $8,000 | $72,000 | $484 | $30 | $100 | $614 | $26,300 |
| 5% down | $4,000 | $76,000 | $511 | $32 | $100 | $643 | $27,600 |
| 3.5% down (FHA) | $2,800 | $78,551 | $528 | $35 | $100 | $664 | $28,500 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.9% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Payment at different interest rates
| Rate | Principal + interest | Total / month | Total interest |
|---|---|---|---|
| 5.61% | $368 | $468 | $68,413 |
| 6.11% | $388 | $488 | $75,770 |
| 6.61% | $409 | $509 | $83,299 |
| 7.11% | $431 | $531 | $90,992 |
| 7.61% | $452 | $552 | $98,838 |
| 8.11% | $475 | $575 | $106,829 |
15 vs 20 vs 30-year mortgage
| Term | Principal + interest | Total / month | Total interest |
|---|---|---|---|
| 30 years at 7.11% | $431 | $531 | $90,992 |
| 20 years at 7.11% | $500 | $600 | $56,102 |
| 15 years at 6.45% | $556 | $656 | $36,035 |
A shorter loan costs more each month but saves a lot of interest — and 15-year loans carry a lower rate (6.45% this week).
Mortgage on a $80K house in each state
Property tax changes the payment a lot from state to state (20% down):
| State | Tax rate | Tax / month | Total / month | Income needed |
|---|---|---|---|---|
| Alabama | 0.38% | $26 | $496 | $21,300 |
| Alaska | 1.06% | $70 | $541 | $23,200 |
| Arizona | 0.44% | $30 | $500 | $21,400 |
| Arkansas | 0.5% | $33 | $504 | $21,600 |
| California | 0.72% | $48 | $518 | $22,200 |
| Colorado | 0.52% | $35 | $505 | $21,600 |
| Connecticut | 1.59% | $106 | $576 | $24,700 |
| Delaware | 0.49% | $32 | $503 | $21,600 |
| District of Columbia | 0.67% | $45 | $515 | $22,100 |
| Florida | 0.8% | $53 | $524 | $22,500 |
| Georgia | 0.77% | $52 | $522 | $22,400 |
| Hawaii | 0.26% | $18 | $488 | $20,900 |
| Idaho | 0.42% | $28 | $499 | $21,400 |
| Illinois | 1.92% | $128 | $599 | $25,700 |
| Indiana | 0.74% | $49 | $520 | $22,300 |
| Iowa | 1.27% | $85 | $555 | $23,800 |
| Kansas | 1.24% | $83 | $554 | $23,700 |
| Kentucky | 0.72% | $48 | $518 | $22,200 |
| Louisiana | 0.55% | $36 | $507 | $21,700 |
| Maine | 0.92% | $61 | $532 | $22,800 |
| Maryland | 0.98% | $65 | $536 | $23,000 |
| Massachusetts | 1.01% | $67 | $538 | $23,100 |
| Michigan | 1.17% | $78 | $549 | $23,500 |
| Minnesota | 1.04% | $69 | $540 | $23,100 |
| Mississippi | 0.65% | $43 | $514 | $22,000 |
| Missouri | 0.79% | $53 | $523 | $22,400 |
| Montana | 0.69% | $46 | $516 | $22,100 |
| Nebraska | 1.31% | $88 | $558 | $23,900 |
| Nevada | 0.47% | $32 | $502 | $21,500 |
| New Hampshire | 1.43% | $96 | $566 | $24,300 |
| New Jersey | 1.82% | $121 | $592 | $25,400 |
| New Mexico | 0.63% | $42 | $513 | $22,000 |
| New York | 1.42% | $95 | $565 | $24,200 |
| North Carolina | 0.64% | $42 | $513 | $22,000 |
| North Dakota | 0.92% | $62 | $532 | $22,800 |
| Ohio | 1.22% | $82 | $552 | $23,700 |
| Oklahoma | 0.76% | $51 | $521 | $22,300 |
| Oregon | 0.79% | $53 | $523 | $22,400 |
| Pennsylvania | 1.12% | $75 | $545 | $23,400 |
| Rhode Island | 1.02% | $68 | $539 | $23,100 |
| South Carolina | 0.45% | $30 | $500 | $21,400 |
| South Dakota | 1.04% | $69 | $540 | $23,100 |
| Tennessee | 0.46% | $30 | $501 | $21,500 |
| Texas | 1.32% | $88 | $559 | $23,900 |
| Utah | 0.5% | $34 | $504 | $21,600 |
| Vermont | 1.51% | $100 | $571 | $24,500 |
| Virginia | 0.71% | $47 | $518 | $22,200 |
| Washington | 0.81% | $54 | $525 | $22,500 |
| West Virginia | 0.51% | $34 | $505 | $21,600 |
| Wisconsin | 1.2% | $80 | $551 | $23,600 |
| Wyoming | 0.56% | $37 | $508 | $21,800 |
Other home prices
Frequently asked questions
What is the monthly payment on a $80K house?
With 20% down and a 30-year fixed rate of 7.11%, the payment on a $80,000 house is about $431 for principal and interest, or $531 including average property tax and insurance.
How much income do I need for a $80K house?
Lenders generally want housing costs under 28% of gross income. A $531 monthly payment needs about $22,700 a year, assuming no other large debts.
How much do I need to put down on a $80K house?
20% is $16,000 and avoids PMI. Conventional loans allow as little as 3–5% ($2,400–$4,000) and FHA loans 3.5% ($2,800), but the monthly payment is higher.