How much house can I afford on $100,000 a year?
A home up to about
$342,825
On $100,000 a year, you could afford a home up to about $342,825 with a 20% down payment of $68,565. The mortgage payment would be about $1,869 a month, or $2,333 with property tax and home insurance.
- Down payment
- $68,565
- Mortgage
- $274,260
- Payment a month
- $1,869
What it costs each month
| Mortgage payment | $1,869 |
| Property tax | $314 |
| Home insurance | $150 |
| Total | $2,333 |
|---|
How your down payment changes it
| Saved for a down payment | Home up to | Mortgage | Payment a month |
|---|---|---|---|
| $14,020 (5%) | $280,391 | $266,371 | $1,815 |
| $29,405 (10%) | $294,046 | $264,641 | $1,804 |
| $68,565 (20%) | $342,825 | $274,260 | $1,869 |
How it’s worked out
Lenders usually keep housing costs (mortgage, property tax, insurance and PMI) under 28% of your gross income, and all your debt payments under 36%. On $100,000, that's $2,333 a month for housing.
Assumes no other debts, 1.1% property tax, $1,800 a year home insurance and 0.5% PMI below 20% down, using the 28/36 guideline. Freddie Mac’s average 30-year fixed rate was 7.24% on 29 October 2026.
- Uses the 28/36 guideline: housing costs (mortgage, property tax, insurance, PMI and HOA fees) up to 28% of gross income, and all debt payments up to 36%. Lenders can approve higher ratios, so this is a comfortable limit rather than the most you could be lent.
- Assumes all your savings go towards the down payment. Closing costs, usually a few percent of the price, are extra.
- PMI is charged while your down payment is under 20%.
Frequently asked questions
How much house can I afford on $100,000 a year?
On $100,000 a year, you could afford a home up to about $342,825 with a 20% down payment of $68,565. The mortgage payment would be about $1,869 a month, or $2,333 with property tax and home insurance.
How much down payment do I need on $100,000?
With $14,020 saved, you could buy a home up to about $280,391. With $29,405 saved, you could buy a home up to about $294,046. With $68,565 saved, you could buy a home up to about $342,825.