How Much House Can You ACTUALLY Afford (Based On Salary)

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This is how much home you can afford based on your salary. As you can see it varies greatly based on what framework you use. I personally recommend you run all 3 scenarios to have an idea of your expected range.

Once you have a budget figured out, be sure to head over to Credit Karma to check out their various home buyer resources.

This video is sponsored by Credit Karma.
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[MegatPage]

Back in the day, when I bought my first home to live in—Miami in the early 1990s—first mortgages with rates of 8 to 9% and 9% to 10% were common. It's a reality that we might never see 3% rates again. If sellers need to sell, home prices will likely have to drop, leading to lower appraisals. I'm pretty sure many others share these thoughts with me.

[samuraikatana]

Mid career making 150k a year??? My dude over 90% of the population will NEVER make anything close to that.

[TheAndyzilla]

70k base line? Aight imma head out, ill go live under a bridge

[bransonsurvivor]

They never show incomes below 100k because people would lose there minds

[buckfiden]

Uhaul sells some medium sized boxes that fit my budget and a few of my belongings.

[garettmcdonald]

Love the video. But I think the average debt/ yearly salary is way off. Auto prices are through the roof, not accounting for any other debts.

[michellmusso]

As someone in their mid 20s making 78k in California, this is so defeating. I feel like I’ll never be able to afford a home even though I’m saving 60% of my income

[atiqhaque]

Great video John! What website is that calculator on?

[druidsongevergreens]

And don’t forget that if you are self employed they use your net income, not your gross. So here comes the mobile home park, except no one will finance rhat either. I went to grad school so I could afford live in more long term stability. But by the time I graduated, inflation and interest rates moved all those “finish lines” more than further ahead, they disappeared into thin air.

[rsuriyop]

It’s not just interest rates that can affect how much home you can afford, but also property taxes and HOA (if the house has it or not) as well. And also, how much down payment you plan to put in (which will have a direct effect on monthly mortgage).

[luiscristianfloresgarcia]

Ok what can I get for 3 dollars as down payment?

[allenm]

Question on the Barclay AAdvantage Aviator Mastercard: Can you earn an additional bonus after a certain period (24 or 48 months)? I've had this for 2+ years, and it would be great if I can just get the additional miles! Thanks.

[alexosmond]

What about property taxes and insurance? Wouldn’t those lower the amount of the monthly payment available for debt? Or do these rules assume one can afford those in addition to the mortgage payment?

[lizquiroz]

Where can I find the website with the calculator?

[austinbailey]

Question, when will my credit start to build back up? I experienced a massive dip on my credit score (51 points) in November 2023. My credit utilization went from its typical 0-1% to 11% when I forgot to pay my balance on the statement close date. That combined with opening a chase freedom unlimited card (2nd credit card) caused the dip. It’s been 2 and a half months and my score hasent changed.

[DanielVazquez]

Debt/income ration is unrealistic. Nowadays, just by paying student debt and used car loan alone is roughly $1000 for a new grad. Also, for the middle-career average "aggressive" example, how come someone making ~7k post-tax can afford a mortgage of almost 6k monthly?

[adambaumeister]

I guess I’m very conservative I’m in market and I’m not willing to go over 30% of my net for all of my debt a month anything more stresses me

[adityachaturvedi]

The 3:3:3 rule should take taxes in consideration. Post tax salary may be vastly different for different slabs.

[jesse]

Just more evidence that first time home buyers are being priced out of home ownership.

[kwame]

Is the suggested mortgage referring to what’s paid to the bank as in PITI or just P