How much house can I afford?
By Sol Lakein, founder of Slower Sundays. Updated November 2026.
Property tax, insurance and HOA come on top of principal and interest and vary by address, so the price you can carry is lower once you add them.
Where the typical home fits that price
71 of 115 metros have a median listing price at or under $424,594.
How much house you can afford by salary
Home affordability: questions people ask
How much house can I afford?
Under the 28/36 rule with 20% down at 7.32%, a $100,000 income supports a principal and interest payment of about $2,333 a month and a home around $424,594, before property tax and insurance.
What is the 28/36 rule?
A lender guideline: spend no more than 28% of gross monthly income on housing and no more than 36% on all debt payments combined, housing included.
Does the calculator include property tax and insurance?
No. It counts principal and interest only, because tax and insurance vary by address. Lenders include them in the 28%, so the price you can carry is lower once you add them.
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Notes on the numbers
- 1The 28/36 rule: housing payment up to 28% of gross monthly income, and all debt payments, housing included, up to 36%. Lenders count property tax and insurance inside the 28%; this calculator counts principal and interest only, so add those costs before you set a budget. Rate: Freddie Mac 30-year fixed average, week of October 22, 2026, 7.32%, 30-year fixed. Rate source
- 2Typical home: the median listing price for each metro, Realtor.com via FRED, September 2026.
Sources for this page
- Bankrate: What is the 28/36 rule?
- Mortgage rate: Freddie Mac 30-year fixed average, week of October 22, 2026
- Median listing price: Realtor.com via FRED, September 2026
- © Realtor.com, Housing Inventory Core Metrics (median listing price and median listing price per square foot), retrieved from FRED, Federal Reserve Bank of St. Louis