When reaching for homeownership, we sometimes use round numbers for financial goals, such as saving $50,000 for a down payment or waiting until we achieve a $100,000 annual salary. If you’ve obtained the latter — and you’re feeling ready to buy — you may be asking, “How much house can I afford if I make $100k a year?” In this post, you’ll find a table of example scenarios and an easy-to-use calculator to help you estimate the amount of home you can buy and what your monthly payments might look like.
While there’s no universal answer to this question, many buyers who earn $100,000 a year can afford a home priced somewhere between $350,000 and $450,000. However, the exact number for you depends on your monthly debt, how much you’ve saved for a down payment, and what interest rate you can get on your mortgage loan. To give you a clearer picture, the table below uses some round numbers and typical loan terms to illustrate how different levels of monthly debt and cash on hand can impact your homebuying budget. These examples assume a 30-year fixed-rate mortgage with an interest rate around 6.5%, along with standard estimates for property tax and insurance costs. If your down payment is under 20%, you may also need to pay private mortgage insurance (PMI), which will increase your monthly payment and could, in turn, reduce your purchasing power. The “Affordable reach” estimates reflect a more comfortable range where your housing costs make up about 28%–36% of your gross monthly income — a level most mortgage lenders consider financially healthy. The “Financial stretch” estimates represent a higher payment-to-income ratio, pushing 40%–43%. In this range, you might still qualify for a mortgage loan, but your monthly budget will feel squeezed, leaving less room for any savings, travel plans, or the inevitable “unexpected” expense. If you’re considering stretching your budget, it’s wise to consult with a lender or a trusted advisor first. You can use the calculator below to test your own numbers. Start by entering your annual income, monthly debts, and a down payment amount to get an initial estimate of how much home you can buy and what your monthly payments might look like. The toggle feature at the top lets you calculate by income or by payment. If you click the “Advanced Options” link, you can fine-tune the details, like your property taxes, PMI, or insurance costs. The calculator will automatically include some typical expenses to help you see how much house you can afford if you make $100k a year, or any salary you enter. While our home affordability tool can give you some starting-point estimates, what you can actually qualify for will depend on your credit score and other factors that surround your salary and savings, including the lender’s specific loan requirements. As noted above, a $100,000 income stretches differently depending on current mortgage rates and where you plan to buy a home. In high-cost metro areas like Los Angeles, Seattle, or Boston, a six-figure salary may qualify you for a smaller condo or townhouse. In mid-range cities like Phoenix, Raleigh, or Tampa, you might afford a more traditional single-family home. And in lower-cost regions of the country, such as San Antonio or Indianapolis, that same salary could open up larger houses with more land or even a new construction home. If you’re not finding the right home within your price range, there are some ways you can expand your homebuying options: Knowing how much house you can afford on your salary is just the start. Your best next step is finding a top-rated real estate agent who understands your market, budget, and goals. With HomeLight’s Agent Match, you can connect with proven, high-performing agents who have experience helping buyers in your price range. Whether you’re ready to start touring homes right away or you’re still exploring options for the future, working with a knowledgeable agent can make the entire process smoother and more enjoyable — from offer to closing. If you earn $100,000 a year, that’s a solid foundation for buying a home, but your real-world price range depends on more than your salary. Tools like HomeLight’s Home Affordability Calculator can help you find a budget and a monthly payment that fits your situation. When you’re ready to buy, connect with a trusted local agent through HomeLight’s Agent Match. To get started, tell us where you’re shopping for a home and what you’re looking for. Our free platform analyzes over 27 million transactions and thousands of reviews to determine which agent is best for you based on your needs. The right agent can help you find neighborhoods and listings that fit your budget and homebuying plans.How much house can I afford if I make $100k a year?
Monthly debts
Cash on hand
Affordable reach
Financial stretch
$0
$80,000
$425,000 – $450,000
$500,000 – $525,000
$500
$60,000
$350,000 – $375,000
$415,000 – $440,000
$1,000
$40,000
$275,000 – $300,000
$350,000 – $375,000
$1,500
$25,000
$190,000 – $215,000
$275,000 – $300,000
Input your own income, debt, and down payment numbers
Key factors that influence how much home you can afford
What a $100k salary buys in today’s market
Tips to boost your home affordability
Your next step toward buying a home
Homeownership can be within your reach
