How much house can I afford making $80,000 a year?
Change the down payment
| Down | Home price | Monthly |
|---|---|---|
| 3% | $217,000 | $1,862 |
| 5% | $221,000 | $1,863 |
| 10% | $231,000 | $1,862 |
| 20% | $268,000 | $1,862 |
If your rate changes
| Rate | Home price | Monthly |
|---|---|---|
| 6.50% | $291,000 | $1,865 |
| 7.00% | $279,000 | $1,862 |
| 7.50% | $268,000 | $1,862 |
| 8.00% | $258,000 | $1,864 |
| 8.50% | $248,000 | $1,861 |
Other monthly debt
| Existing debt / mo | Home price | DTI |
|---|---|---|
| $0 | $268,000 | 27.9% |
| $300 | $268,000 | 32.4% |
| $600 | $259,000 | 36.0% |
| $1,000 | $201,000 | 35.9% |
How far $80,000 goes by state
| State | Home price | Monthly |
|---|---|---|
| California | $292,000 | $1,866 |
| Arizona | $290,000 | $1,863 |
| Colorado | $290,000 | $1,860 |
| Washington | $285,000 | $1,866 |
| North Carolina | $279,000 | $1,862 |
| Georgia | $274,000 | $1,862 |
| Pennsylvania | $258,000 | $1,863 |
| New York | $257,000 | $1,866 |
| Ohio | $254,000 | $1,863 |
| Florida | $247,000 | $1,860 |
| Illinois | $240,000 | $1,866 |
| Texas | $234,000 | $1,859 |
Run it with your own numbers
Monthly breakdown
Total interest $325,282 · total PMI $0 · paid off in 30 years
Compare loan terms
| Term | Monthly (P&I) | Total monthly | Total interest |
|---|---|---|---|
| 10 years | $2,545 | $2,974 | $90,996 |
| 15 years | $1,988 | $2,417 | $143,353 |
| 20 years | $1,727 | $2,156 | $200,126 |
| 30 years | $1,499 | $1,928 | $325,282 |
Amortization schedule
| Year | Interest | Principal | Balance |
|---|---|---|---|
| 1 | $16,013 | $1,976 | $212,424 |
| 2 | $15,860 | $2,130 | $210,294 |
| 3 | $15,694 | $2,295 | $207,999 |
| 4 | $15,516 | $2,473 | $205,525 |
| 5 | $15,324 | $2,665 | $202,860 |
| 6 | $15,117 | $2,872 | $199,987 |
| 7 | $14,894 | $3,095 | $196,892 |
| 8 | $14,654 | $3,336 | $193,557 |
| 9 | $14,395 | $3,595 | $189,962 |
| 10 | $14,116 | $3,874 | $186,088 |
| 11 | $13,815 | $4,174 | $181,914 |
| 12 | $13,491 | $4,498 | $177,416 |
| 13 | $13,142 | $4,848 | $172,568 |
| 14 | $12,765 | $5,224 | $167,344 |
| 15 | $12,360 | $5,629 | $161,715 |
| 16 | $11,923 | $6,067 | $155,648 |
| 17 | $11,452 | $6,537 | $149,111 |
| 18 | $10,944 | $7,045 | $142,066 |
| 19 | $10,397 | $7,592 | $134,474 |
| 20 | $9,808 | $8,181 | $126,293 |
| 21 | $9,173 | $8,816 | $117,476 |
| 22 | $8,489 | $9,501 | $107,975 |
| 23 | $7,751 | $10,238 | $97,737 |
| 24 | $6,956 | $11,033 | $86,704 |
| 25 | $6,100 | $11,890 | $74,814 |
| 26 | $5,177 | $12,813 | $62,001 |
| 27 | $4,182 | $13,808 | $48,193 |
| 28 | $3,110 | $14,879 | $33,314 |
| 29 | $1,955 | $16,035 | $17,279 |
| 30 | $710 | $17,279 | $0 |
Showing 360 payments. Schedule assumes a fixed rate and constant home value for PMI cancellation.
FAQ
How much house can I afford on $80,000 a year?
With a 20% down payment and a 7.50% 30-year rate, the 28/36 rule points to a home around $268,000 — roughly $1,862 per month all-in (principal, interest, taxes and insurance). The binding constraint here is the front-end (28% housing) ratio.
What is the 28/36 rule?
Lenders typically want housing costs at or below 28% of gross monthly income, and total debt (housing plus car, student and credit card payments) at or below 36%. This page applies both and reports whichever limit binds first.
How much down payment do I need?
A 20% down payment avoids PMI entirely. On this income that is about $53,600. Putting 5% down lowers the cash you need but adds PMI and shrinks the price you qualify for.