How much house can I afford on $80,000 a year?
A home up to about
$269,549
On $80,000 a year, you could afford a home up to about $269,549 with a 20% down payment of $53,910. The mortgage payment would be about $1,470 a month, or $1,867 with property tax and home insurance.
- Down payment
- $53,910
- Mortgage
- $215,639
- Payment a month
- $1,470
What it costs each month
| Mortgage payment | $1,470 |
| Property tax | $247 |
| Home insurance | $150 |
| Total | $1,867 |
|---|
How your down payment changes it
| Saved for a down payment | Home up to | Mortgage | Payment a month |
|---|---|---|---|
| $11,023 (5%) | $220,460 | $209,437 | $1,427 |
| $23,120 (10%) | $231,196 | $208,076 | $1,418 |
| $53,910 (20%) | $269,549 | $215,639 | $1,470 |
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 $80,000, that's $1,867 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 $80,000 a year?
On $80,000 a year, you could afford a home up to about $269,549 with a 20% down payment of $53,910. The mortgage payment would be about $1,470 a month, or $1,867 with property tax and home insurance.
How much down payment do I need on $80,000?
With $11,023 saved, you could buy a home up to about $220,460. With $23,120 saved, you could buy a home up to about $231,196. With $53,910 saved, you could buy a home up to about $269,549.