Home affordability calculator
Enter your income, debts and savings to see a comfortable, standard and stretch home price. Pick a town to see how that compares with what homes there typically cost.
Compare with a town (optional)
Results are estimates for planning, not financial advice or a loan offer. Starting figures marked as examples are placeholders: replace them with your own quotes. See the disclaimer and terms.
How the price is worked out
Lenders commonly look at two ratios: housing cost as a share of gross income, and housing plus other monthly debts as a share of gross income. This tool uses three sets of limits, 25% and 33%, 28% and 36%, and 31% and 43%, and takes the lower of the two limits in each. That gives the monthly housing budget.
It then finds the home price whose full monthly cost (loan payment, property tax, insurance, HOA and PMI) equals that budget, given your down payment. A larger down payment, a lower rate or fewer debts all raise the price.
Lenders also look at credit score, savings left after closing and job history, so a lender's figure can differ. Treat this as a starting point for a conversation with one.
The town comparison
The typical home price is the Census Bureau's median value of owner-occupied homes in the town. It reflects homes people already own and can be below current asking prices.