Home Affordability Calculator — Max Price by Income
The income-first view: hold the rule at 28/36 and see what different salaries buy. At 6.5% with typical tax and insurance, $90,000 of income with $30,000 down supports about $298,399; $120,000 with $60,000 down supports about $418,557. Income scales the budget linearly, but the solved price also rides the down payment and rate, which is why a salary jump moves the answer less than doubling savings does.
Home affordability under the 28/36 rule
Affordable home price
$418,557
bound by the 28% housing cap — $2,800.00/mo for housing
Breakdown
A budgeting estimate under the conventional 28/36 debt-to-income rule — not a pre-approval or lending decision. Lenders weigh credit, reserves, and loan programs this tool doesn't see.
Salary alone doesn't set the price
Each extra $10,000 of income adds $233 a month to the front-end budget, which the 6.5% annuity factor turns into roughly $32,000 of additional loan after tax scaling. That's meaningful but slower than buyers expect — the down payment, by contrast, converts to price nearly one-for-one, and a percentage point of rate moves the affordable price by tens of thousands without touching income at all.
The practical use of this view is planning order: if you're a year from buying, compare what a raise, a debt payoff, and another year of saving each do to the number. For most households the down payment and the debts move it fastest.
Questions
- How much house does a $90,000 income afford?
- About $298,399 with $400 of monthly debts, $30,000 down, and a 6.5% 30-year rate — a $2,100 monthly housing budget with a $1,696.47 principal-and-interest payment.
- How much income do I need for a $400,000 home?
- Around $115,000–$120,000 with $60,000 down at 6.5% under the 28/36 rule — the default example lands at $418,557 on $120,000. More down payment or a lower rate pulls the income requirement down.
More ways to use this calculator
Start with the main home affordability calculator or compare the other published scenarios.
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