How Much House Can I Afford on a $100K Salary?
The Short Answer
On $100K you can typically afford a home around $380K-$485K. The 28% rule limits your housing payment to about $2,333/month.
The Detailed Breakdown
Calculated using the 28/36 DTI rule with a 30-year fixed mortgage at 6.75% and 10% down.
| Calculation | Value | Assumptions |
|---|---|---|
| Conservative (28% Rule) | $380,000 | 28% gross income, 10% down, 6.75% rate |
| Moderate Estimate | $430,000 | 32% gross income, 10% down, minimal debts |
| Aggressive (36% Rule) | $485,000 | 36% gross income, no other debts |
Key Assumptions
- 6.75% fixed 30-year mortgage rate.
- 10% down payment.
- Property taxes at 1.1% annually.
- Homeowners insurance at $1,200/year.
Adjust for Your Situation
On $100K, target homes around $380K-$430K to maintain financial flexibility.
Use the Free CalculatorWhat Affects This Result
Credit Score
A 740+ score could add $30K+ in buying power.
Location
High-tax states like NJ (2.2%) reduce buying power significantly.
Existing Debt
Student loans or car payments reduce approval amounts.