What Can I Afford? See What Your Income Buys in Every City
Enter your income, savings, and debts to see your maximum home price and which U.S. cities are within reach. Based on the 28/36 rule used by most lenders.
How Far Your Money Goes
Sorted by most affordable first. Based on current median home prices.
Frequently Asked Questions
What is the 28/36 rule?
The 28/36 rule is a guideline lenders use to determine how much you can afford. Under this rule, your monthly housing costs (mortgage, taxes, insurance) should not exceed 28% of your gross monthly income. Your total monthly debts, including housing, should stay below 36% of gross income. This tool uses the 28% front-end ratio to calculate your maximum home price.
How is max affordable home price calculated?
We take 28% of your gross monthly income as your maximum housing payment, then subtract estimated property taxes (1.1%) and homeowners insurance ($150/month). The remaining amount becomes your maximum mortgage payment. Using a 30-year fixed rate of 6.75%, we calculate the loan amount that produces that payment, then add your down payment to get the max purchase price.
What do the badges mean?
"Affordable" means the city's median home price is at or below your calculated maximum. "Stretch" means the median is up to 20% above your max, which you might still manage with a larger down payment or by accepting a higher debt ratio. "Out of reach" means the median price significantly exceeds your budget based on the 28/36 rule.
Does a bigger down payment help me afford more?
Yes. A larger down payment directly increases your purchasing power because it reduces the loan amount needed. It also eliminates or reduces private mortgage insurance (PMI) if you put down 20% or more, freeing up more of your monthly budget for the mortgage payment itself. Even adding $10,000 to your down payment can increase your buying power by $10,000-$15,000.
Why does monthly debt affect how much I can afford?
Lenders look at your debt-to-income ratio (DTI) to decide how much to lend you. High existing debts like car loans, student loans, or credit card minimums reduce the amount available for a mortgage payment. Paying off debts before buying can significantly increase your purchasing power. For every $300/month in debt you eliminate, you could potentially afford an additional $45,000-$50,000 in home price.
Are these median home prices accurate?
The median prices shown are approximate figures based on recent market data. Actual prices vary within each metro area. Suburban areas may be significantly cheaper than city centers. These figures give you a useful benchmark for comparison, but you should check current listings in your target neighborhoods for the most accurate picture.