What income do I need to buy a $750,000 house?

With a $150,000 deposit you'd borrow $600,000. Lenders assess your repayments at your rate plus a buffer of at least 3 percentage points (so around 9.2% rather than 6.2%), and generally want loan repayments under about 30% of gross income. That points to a household income roughly in the $150,000-$165,000 range — but two incomes, low debts and modest living expenses can lower it, while the reverse pushes it up.

Why do lenders add a buffer to the interest rate?

APRA requires lenders to test whether you could still afford the loan if rates rose, by assessing you at your actual rate plus a buffer of at least 3 percentage points. It protects you and the lender from rate rises. It's why your borrowing power can be lower than you'd expect from today's rate alone.

Does a couple need less income than a single buyer?

Usually yes, per person. Lenders look at total household income against total expenses, so two incomes spread the same repayment across more earning capacity. Living expenses don't double when you couple up, so a couple can often buy the same home on a lower income each than a single buyer would need alone.

What Income Do I Need to Buy a House?

Work out the income you'd likely need to buy a home at any price — assessed the way lenders do it, with the APRA serviceability buffer added to the rate.

Last verified: 5 May 2026

How much income do I need to buy a house?

Lenders test you at your rate + a 3% APRA buffer and generally want repayments under ~30% of gross income. That's why borrowing power feels lower than today's rate suggests. Two incomes change it a lot. Source: APRA, ASIC MoneySmart.

Worked example. A $750,000 home with a $150,000 deposit = a $600,000 loan. Assessed at ~9.2%, the repayment points to a household income of roughly $155,000 — lower with two incomes and few debts, higher with dependants or other loans.

General information and estimates only — not financial, tax, or legal advice. Always verify with a licensed adviser or the ATO.

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What Income Do I Need to Buy a House?

How much income do I need to buy a house?

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