Take 28% of your gross monthly income — that's the most the 28/36 rule says to spend on your mortgage payment including property tax and insurance (PITI). At the 7.24% average 30-year rate (Freddie Mac, week of October 29, 2026) and 20% down, each $1,000 of monthly PITI buys roughly $149,000 of house; with 3.5% down on an FHA loan, about $119,000.
Home affordability calculator: how much house can I afford?
Estimate: 30-year fixed, property tax 0.9%/yr, insurance $2,490/yr per $400k, PMI 0.60% (5% down) / 0.45% (10% down), FHA MIP 0.55% + 1.75% upfront. No HOA. For your exact payment use the mortgage calculator.
How much house can I afford? The 28/36 rule explained
Lenders don't start from the house price — they start from your income. The front-end ratio caps your housing payment (principal, interest, taxes, insurance, plus PMI and HOA dues) at about 28% of gross monthly pay. The back-end ratio caps housing plus every other debt payment at about 36%. Some loans go further: FHA's standard ratios are 31% and 43%, and 43% was the Qualified Mortgage cap until 2022.
Each guide below turns one salary into a home price at the current Freddie Mac average rate, with four down payment scenarios (3.5% FHA, 5%, 10%, 20%), estimated PMI, the effect of a $300 or $600 car or student-loan payment, how long the down payment takes to save, and how the result compares with the U.S. median home ($417,500, NAR September 2026) and median prices in major metros.
How much house can I afford by salary (7.24%, October 29, 2026)
| Salary | Max PITI (28%) | FHA 3.5% | 5% down | 10% down | 20% down |
|---|---|---|---|---|---|
| $40,000 | $933 | $111,000 | $114,000 | $121,000 | $139,000 |
| $45,000 | $1,050 | $125,000 | $128,000 | $136,000 | $156,000 |
| $50,000 | $1,167 | $139,000 | $142,000 | $151,000 | $174,000 |
| $55,000 | $1,283 | $153,000 | $156,000 | $166,000 | $191,000 |
| $60,000 | $1,400 | $167,000 | $170,000 | $181,000 | $208,000 |
| $65,000 | $1,517 | $180,000 | $185,000 | $196,000 | $226,000 |
| $70,000 | $1,633 | $194,000 | $199,000 | $211,000 | $243,000 |
| $75,000 | $1,750 | $208,000 | $213,000 | $226,000 | $260,000 |
| $80,000 | $1,867 | $222,000 | $227,000 | $241,000 | $278,000 |
| $85,000 | $1,983 | $236,000 | $241,000 | $256,000 | $295,000 |
| $90,000 | $2,100 | $250,000 | $256,000 | $271,000 | $312,000 |
| $95,000 | $2,217 | $264,000 | $270,000 | $286,000 | $330,000 |
| $100,000 | $2,333 | $278,000 | $284,000 | $301,000 | $347,000 |
| $110,000 | $2,567 | $305,000 | $312,000 | $332,000 | $382,000 |
| $120,000 | $2,800 | $333,000 | $341,000 | $362,000 | $417,000 |
| $130,000 | $3,033 | $361,000 | $369,000 | $392,000 | $451,000 |
| $140,000 | $3,267 | $389,000 | $398,000 | $422,000 | $486,000 |
| $150,000 | $3,500 | $417,000 | $426,000 | $452,000 | $521,000 |
| $175,000 | $4,083 | $486,000 | $497,000 | $528,000 | $608,000 |
| $200,000 | $4,667 | $555,000 | $568,000 | $603,000 | $694,000 |
| $250,000 | $5,833 | $694,000 | $710,000 | $754,000 | $868,000 |
| $300,000 | $7,000 | $833,000 | $852,000 | $904,000 | $1,042,000 |
Estimated home prices, no other debts, rounded to $1,000. See each guide for the assumptions and the effect of other debts.
Run your exact numbersYour real rate, state property tax, HOA and down payment change the answer. Plug them into the mortgage calculator, or use the affordability calculator on our hub.
Income needed to buy a median home in 19 metros
Salary needed so that PITI on the metro's median single-family home stays at 28% of gross income, at 7.24%.
| Metro (approx.) | Median price | 20% down | Income, 20% down | Income, FHA 3.5% |
|---|---|---|---|---|
| San Francisco | $1,500,000 | $300,000 | $432,000 | $540,000 |
| Los Angeles | $879,900 | $175,980 | $253,000 | $317,000 |
| Boston | $844,600 | $168,920 | $243,000 | $304,000 |
| Seattle | $815,000 | $163,000 | $235,000 | $293,000 |
| New York City | $802,400 | $160,480 | $231,000 | $289,000 |
| Washington, D.C. | $688,200 | $137,640 | $198,000 | $248,000 |
| Denver | $668,300 | $133,660 | $192,000 | $241,000 |
| Miami | $659,000 | $131,800 | $190,000 | $237,000 |
| Phoenix | $477,700 | $95,540 | $138,000 | $172,000 |
| Chicago | $438,600 | $87,720 | $126,000 | $158,000 |
| Philadelphia | $419,800 | $83,960 | $121,000 | $151,000 |
| Minneapolis | $414,300 | $82,860 | $119,000 | $149,000 |
| Atlanta | $387,000 | $77,400 | $111,000 | $139,000 |
| Dallas | $380,100 | $76,020 | $109,000 | $137,000 |
| Houston | $345,200 | $69,040 | $99,000 | $124,000 |
| St. Louis | $314,100 | $62,820 | $90,000 | $113,000 |
| Detroit | $311,800 | $62,360 | $90,000 | $112,000 |
| Pittsburgh | $267,700 | $53,540 | $77,000 | $96,000 |
| Cleveland | $258,500 | $51,700 | $74,000 | $93,000 |
Approximate: NAR Q2 2026 metro median single-family existing-home prices (as tabulated by HSH.com). FHA figures ignore FHA loan limits, which cap FHA loans at $541,287–$1,249,125 depending on county.
Home affordability guides by salary
- How much house can I afford on $40k a year?
- How much house can I afford on $45k a year?
- How much house can I afford on $50k a year?
- How much house can I afford on $55k a year?
- How much house can I afford on $60k a year?
- How much house can I afford on $65k a year?
- How much house can I afford on $70k a year?
- How much house can I afford on $75k a year?
- How much house can I afford on $80k a year?
- How much house can I afford on $85k a year?
- How much house can I afford on $90k a year?
- How much house can I afford on $95k a year?
- How much house can I afford on $100k a year?
- How much house can I afford on $110k a year?
- How much house can I afford on $120k a year?
- How much house can I afford on $130k a year?
- How much house can I afford on $140k a year?
- How much house can I afford on $150k a year?
- How much house can I afford on $175k a year?
- How much house can I afford on $200k a year?
- How much house can I afford on $250k a year?
- How much house can I afford on $300k a year?
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Frequently asked questions
How much house can I afford?
Under the 28/36 rule, your monthly housing payment (principal, interest, property tax, insurance) should be no more than 28% of gross monthly income, and all debts no more than 36%. At the 7.24% average rate (October 29, 2026) with 20% down, that works out to roughly 3.5 times your annual salary if you have no other debts.
How much house can I afford on $80k?
About $278,000 with 20% down, or $222,000 with a 3.5% FHA down payment, keeping PITI at $1,867 a month (28% of $6,667). Estimates assume 0.9% property tax and national-average insurance.
What is the 28/36 rule?
A lender guideline: spend no more than 28% of gross monthly income on housing (PITI) and no more than 36% on housing plus all other debt payments such as car loans, student loans and credit cards.
Is 43% DTI still the limit?
43% was the Qualified Mortgage cap until the CFPB replaced it with a price-based test (mandatory since October 2022). It remains FHA's standard back-end ratio and a common benchmark; some programs allow up to 50% with strong credit and reserves.
What salary do I need to buy a median-priced home?
About $120,000 a year to buy the $417,500 national median existing home (NAR, September 2026) with 20% down under the 28% rule at 7.24%, using our tax and insurance assumptions.
Does a home affordability calculator include PMI?
Ours does: with less than 20% down it adds estimated private mortgage insurance (0.60% a year at 5% down, 0.45% at 10% down) or FHA mortgage insurance (0.55% a year plus 1.75% upfront). Your actual quote depends on credit score.
Sources & assumptions
- Mortgage rate: Freddie Mac Primary Mortgage Market Survey (PMMS), week of October 29, 2026 — 30-year fixed 7.24% (prior week 7.32%, a year earlier 6.17%), 15-year fixed 6.6%. PMMS is a national average for borrowers with strong credit and 20% down; FHA and low-down-payment quotes differ.
- National median: National Association of Realtors (NAR), existing-home sales for September 2026 (released October 13, 2026) — $417,500 for all existing homes; NAR's Q3 2026 single-family median was $432,900 (released October 29, 2026).
- Metro prices (approximate): NAR metropolitan median single-family existing-home prices for Q2 2026, as tabulated in HSH.com's "Income you need to purchase a median-priced existing home" (Q2 2026). Metro medians cover whole metropolitan areas; city neighborhoods and condos differ widely.
- Property tax: 0.9% of value per year, the 2025 national effective rate for single-family homes (ATTOM). Insurance: $2,490 a year per $400,000 of dwelling coverage (NerdWallet, 2026), scaled to price. Both are national averages — your state can be far higher or lower.
- Mortgage insurance (estimates): FHA annual MIP 0.55% of the base loan plus 1.75% upfront MIP financed into the loan (HUD, for loans ≤ $726,200 with under 5% down). Conventional PMI assumed at 0.60% a year with 5% down and 0.45% with 10% down for a borrower with good credit; Freddie Mac cites roughly $30–$70 a month per $100,000 borrowed, and actual quotes depend on credit score.
- Loan limits 2026: conforming baseline $832,750 (FHFA); FHA $541,287 in most counties up to $1,249,125 in high-cost areas (HUD). Closing costs assumed at 3% of price (2%–5% is typical). No HOA dues.
- Take-home pay: single filer, 2026 federal brackets and $16,100 standard deduction (IRS Rev. Proc. 2025-32), FICA, no state tax — same engine as our paycheck calculator.
- The 28/36 rule is a traditional lender guideline, not a law. The 43% debt-to-income cap was the Qualified Mortgage (QM) limit until the CFPB replaced it with a price-based test (mandatory since October 1, 2022); 43% remains FHA's standard back-end ratio and a common benchmark, while Fannie Mae's automated underwriting can approve up to 50% DTI.