How much house can I afford on $150k?

A $150,000 gross salary works out to roughly $9,400 a month in take-home pay after taxes and typical deductions. The 28% housing guideline points to keeping total housing costs at or under about $2,632 a month.

At today's rates, that comfortably supports a home in the $450,000–520,000 range, before adjusting for your down payment, other debts, and property taxes in your area.

Two buyers with identical salaries can afford very different homes. Down payment size, mortgage rate, existing car and student loans, and local property taxes all pull the number up or down.

Enter your real figures above and the calculator will show whether the home you're eyeing actually fits, or how much room you have to stretch.

On a $485,000 home, 10% down is $48,500 and 20% is $97,000. Closing costs run roughly $9,700 to $24,250. In most counties you're still under the conforming loan limit, so you keep conventional pricing, but in high-cost areas a low down payment can tip you into jumbo territory, where lenders typically want 10–20% down and stricter reserves.

At this price, property taxes and insurance often add $700–$1,100 a month on their own. Maintenance at the standard 1%-of-value guideline is another $400 a month. The loan payment is barely two-thirds of what you'll actually spend on the house.

The real risk on $150,000 isn't qualifying, it's qualifying for more than you should take. Lenders will often approve past $600,000 here. The difference between a $485,000 and a $600,000 home is roughly $700 a month, which is the exact amount most households would otherwise be investing.

This calculator provides general educational estimates only. It is not investment, tax, legal, or professional financial advice, and it does not account for every part of your situation. For decisions that matter, consider speaking with a qualified professional. Read our full financial disclaimer.