By the CalcLedger editorial team · Updated September 2026 · Examples use illustrative rates · How we calculate
Short answer: with an $80,000 salary and no other debts, a comfortable home price is about $240,000 to $290,000, depending on your down payment. Your total monthly housing cost would be about $1,867.
How it's calculated
An $80,000 salary is about $6,667 a month before taxes. Under the 28/36 guideline:
- Housing costs up to 28%: $1,867 a month.
- All debts including housing up to 36%: $2,400 a month, which leaves about $533 for other debts before your budget shrinks.
Home price by down payment
| Down payment | Approx. home price | Cash for down payment | Principal & interest |
|---|---|---|---|
| 5% | $238,000 | $11,900 | $1,429 |
| 10% | $250,000 | $25,000 | $1,419 |
| 20% | $292,000 | $58,300 | $1,474 |
Assumptions unless noted: 30-year fixed at an illustrative 6.5%, property tax 1.1% of price per year, homeowners insurance $1,500 per year, no HOA, PMI estimated at 0.5% per year when the down payment is under 20%, and no other debts. Figures are rounded.
Where you buy: property taxes change everything
At this income, the property tax rate in your county can shift your budget by tens of thousands of dollars. Property tax is part of your 28%, so a higher tax bill leaves less room for the mortgage.
| Property tax rate | Examples of where rates like this are common | Approx. price (20% down) | Monthly tax |
|---|---|---|---|
| 0.5% | Parts of Hawaii, Alabama, Colorado | $318,000 | $133 |
| 1.1% | Close to the national average | $292,000 | $267 |
| 1.6% | Parts of Pennsylvania, Ohio, Michigan | $273,000 | $363 |
| 2.2% | Parts of New Jersey, Illinois, Texas | $253,000 | $463 |
The same $80,000 income supports about $65,000 more house in a low-tax county than in a high-tax one. Rates vary a lot by county and even by town, so always look up the actual tax bill on a listing you're considering, not a state average.
Home price you can afford on $80,000, by property tax rate
20% down, 6.5% rate, housing payment $1,867 a month
HOA dues work the same way
Homeowners association fees also count toward your housing limit. A $250 monthly HOA fee on a townhome or condo reduces your price from about $292,000 to about $250,000. HOA fees can cover things you'd otherwise pay for, like exterior maintenance, landscaping, or some utilities, so compare the full picture. But in the affordability math, every dollar of HOA is a dollar less for the mortgage.
How interest rates change your budget
| Interest rate | Approx. price (20% down) |
|---|---|
| 5.5% | $319,000 |
| 6.0% | $305,000 |
| 6.5% | $292,000 |
| 7.0% | $279,000 |
| 7.5% | $268,000 |
A one-point change in your rate moves your budget by about $25,000. Improving your credit score before applying and comparing several lenders are the two most reliable ways to protect it. Some buyers also consider an adjustable-rate mortgage for a lower starting rate. Our ARM vs. fixed guide explains the risks.
How debts change it
With $600 a month in other debts, your housing limit drops slightly to $1,800, and the price falls to about $280,000. At $900 a month, it drops to $1,500 and about $230,000. The first $533 or so of other debts doesn't affect your budget at this income, but anything beyond that reduces it by roughly $17,000 for every $100 a month.
15-year or 30-year at $80k?
An $80,000 income can often handle a 15-year mortgage on a smaller home. You'd buy less house, but pay far less interest and own it outright in half the time. Our 15- vs. 30-year comparison shows the trade-off in dollars. A middle path many people use: take the 30-year loan for flexibility, then pay extra when you can.
Cash you'll need
For a $292,000 home with 20% down, plan on roughly $58,000 for the down payment plus about $7,000 in closing costs, around $65,000 total. With 5% down on a $238,000 home, you'd need about $12,000 plus closing costs, and you'd pay PMI until you reach 20% equity. See closing costs explained.
Get your exact number
Enter your income, debts, down payment, and your county's actual property tax rate in the home affordability calculator. Then test real listings in the mortgage calculator with their actual taxes and HOA dues.
Frequently asked questions
Can I afford a $300,000 house on $80,000 a year?
It's close. With 20% down at 6.5% and a 1.1% property tax rate, a $300,000 home costs about $1,920 a month, just over the 28% guideline of $1,867. In a lower-tax county or with a slightly lower rate, it fits. With other debts or a high tax rate, it would be a stretch.
How much is the monthly payment on a $250,000 house?
With 20% down at 6.5%, principal and interest on a $200,000 loan is about $1,264. Adding property tax at 1.1% ($229) and insurance ($125) brings it to roughly $1,620 a month, before any HOA dues or PMI.
Should I use all my savings for the down payment?
Usually not. Keep an emergency fund of three to six months of expenses after closing, plus money for moving and early repairs. Putting 10% down and paying PMI for a few years is often safer than draining your savings to reach 20%.
Other salaries: $50,000 · $60,000 · $75,000 · $100,000 · $150,000