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How much house can I afford on $30,000 a year?

Quick answer

On a $30,000 salary you can afford a home priced roughly $72,000 to $98,000 with a conventional loan and 5% down, or $70,000 to $95,000 with FHA and 3.5% down — assuming no other debts, a 7.18% rate, 1% property tax and average insurance.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsLast updated

Estimated max home price

$98,000

Estimated payment $896/mo

Down payment
$4,900
Loan amount
$93,100
Monthly housing payment
$896

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How does down payment change what I can afford on $30,000?

Down paymentLoanMax price (36% DTI)Cash downMonthly payment
3.5%FHA$95,000$3,325$898
5%Conventional$98,000$4,900$896
10%Conventional$103,000$10,300$897
20%Conventional$120,000$24,000$895

What assumptions are used?

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

7.18% fixed rate (edit it above), 30-year term, no other monthly debts, 1.00% property tax, $1,737/yr homeowners insurance (NAIC's 2023 U.S. average HO-3 premium), FHA upfront MIP of 1.75% financed plus 0.55% annual MIP, and an estimated 0.5% PMI on conventional loans with under 20% down.

$30,000 salary by state

AlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareDistrict of ColumbiaFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWest VirginiaWisconsinWyoming

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Frequently asked questions

Your gross monthly income is about $2,500. At 28% that's $700 a month for housing; at 36% (with no other debts) it's $900.

Probably not without a large down payment or a co-borrower. At 36% DTI with 5% down, the estimated maximum is about $98,000.

Yes — principal, interest, 1% property tax, $1,737/yr insurance and mortgage insurance (FHA MIP or estimated PMI). State pages use local tax and insurance data.

Sources

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.