How Much House on a $60,000 Salary?

With a $60,000 salary, the 28% rule gives you about $1,400 a month for housing. That supports a home around $200,000 in most markets, assuming a modest down payment.

The math

28% of $60,000 is $16,800 a year, or $1,400 a month. Backing out taxes and insurance, that leaves about $1,050 for principal and interest — roughly a $165,000 loan at 6.5%.

Where that gets you

In low-cost states like Alabama ($232,000 average) or Louisiana ($210,000 average), a $200,000 home is realistic. In California ($735,000 average), it is out of reach without a far larger income.

Stretch carefully

Lenders may approve you for more, but 28% is the safe ceiling. Our salary calculator lets you test the exact number.