House Affordability Calculator

Estimate the home price that fits your income, debts, down payment, and local housing costs using a lender-style affordability model.

Gross Annual Income

Monthly Debt Payments

Down Payment %

Interest Rate %

Loan Term

Property Tax %

Insurance / Yr

HOA / Mo

Estimated Affordable Home Price

$441,671

Based on the 28% housing ratio guideline

Monthly Housing Budget

$2,800

Max Loan Amount

$353,337

Down payment$88,334

Principal & interest$2,233

Property tax$442

Insurance$125

HOA$0

Front-end DTI28%

Back-end DTI34%

This estimate follows the 28/36 affordability rule. If your income is variable, your local taxes are unusually high, or you expect major monthly expenses, target a lower home price than the maximum shown here.

Last updated: March 2026Reviewed by CalculWise editorial team

Sources: CFPB·HUD

Methodology: Affordability estimate based on the 28/36 debt-to-income guideline, then translated into a maximum home price using mortgage principal, rate, tax, insurance, and HOA assumptions.

What affordability really means

Affordability is not just about what payment a lender might approve. It is about how much housing cost fits inside the rest of your life. This calculator starts with the 28/36 rule because it is a useful qualification baseline, then converts that monthly budget into a home price after factoring in taxes, insurance, HOA dues, and your chosen down payment.

That matters because two households with the same income can have very different affordable prices. A buyer in a low-tax market with no HOA can support a larger mortgage than a buyer in a high-tax market with the same salary and the same interest rate.

Why debts change the result so much

Existing monthly obligations reduce the room available for housing. Car loans, student loans, minimum credit-card payments, and other recurring debt are part of the back-end ratio that lenders watch closely. Even a few hundred dollars per month in debt can trim tens of thousands from the affordable home price.

How to use the number well

Use the result as an upper boundary, not a target you must hit.
Model local taxes and realistic insurance costs, not generic guesses.
Leave room for maintenance, repairs, utilities, and savings.
Compare the result with your comfort level, not only lender rules.

Frequently Asked Questions

How much house can I afford based on salary?

A common starting rule is that your housing payment should stay near 28% of gross monthly income, while all debts together should stay near 36%. This calculator uses that framework and then layers in property tax, insurance, HOA, rate, and down payment assumptions.

What is the 28/36 rule?

The 28/36 rule is a lending guideline. The front-end ratio says your housing payment should be no more than 28% of gross monthly income. The back-end ratio says your total monthly debt, including housing, should be no more than 36% of gross monthly income.

Why do property taxes and insurance matter so much?

Because lenders qualify you on the full monthly housing cost, not just principal and interest. In high-tax markets, property taxes can lower the home price you can realistically afford by tens of thousands of dollars.

Should I buy at the maximum this calculator shows?

Not automatically. The maximum shown is a lending-style estimate, not a comfort guarantee. If your income is variable or you want more room for savings, maintenance, childcare, or travel, target a lower price than the maximum.