How much house can I afford on $155,000 a year?
A home up to about
$544,333
On $155,000 a year, you could afford a home up to about $544,333 with a 20% down payment of $108,867. The mortgage payment would be about $2,968 a month, or $3,617 with property tax and home insurance.
- Down payment
- $108,867
- Mortgage
- $435,466
- Payment a month
- $2,968
What it costs each month
| Mortgage payment | $2,968 |
| Property tax | $499 |
| Home insurance | $150 |
| Total | $3,617 |
|---|
How your down payment changes it
| Saved for a down payment | Home up to | Mortgage | Payment a month |
|---|---|---|---|
| $22,261 (5%) | $445,202 | $422,941 | $2,882 |
| $46,689 (10%) | $466,882 | $420,193 | $2,864 |
| $108,867 (20%) | $544,333 | $435,466 | $2,968 |
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 $155,000, that's $3,617 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 $155,000 a year?
On $155,000 a year, you could afford a home up to about $544,333 with a 20% down payment of $108,867. The mortgage payment would be about $2,968 a month, or $3,617 with property tax and home insurance.
How much down payment do I need on $155,000?
With $22,261 saved, you could buy a home up to about $445,202. With $46,689 saved, you could buy a home up to about $466,882. With $108,867 saved, you could buy a home up to about $544,333.