How much house can I afford on $180,000 a year?
$581,849 home price with 10% down
$734,359 interest over 30 years
Principal $523,664 Interest $734,359. 58¢ of every dollar paid goes to interest.
Home price whose payment ($4,200.00 a month including estimated property tax and PMI) is 28% of $180,000 gross income, with 10% down and a 30-year loan at 7.03%, the Freddie Mac average for the week of September 24, 2026.
That is a $523,664 mortgage and a $58,185 down payment.
Source: Freddie Mac Primary Mortgage Market Survey, week of September 24, 2026. An average, not an offer.
By down payment
| Down payment | Home price | Cash down | Loan | Principal and interest | PMI |
|---|---|---|---|---|---|
| 3% | $543,391 | $16,302 | $527,089 | $3,517.36 | $329.43 |
| 5% | $553,850 | $27,693 | $526,158 | $3,511.15 | $328.85 |
| 10% | $581,849 | $58,185 | $523,664 | $3,494.51 | $327.29 |
| 20% | $701,339 | $140,268 | $561,071 | $3,744.13 | — |
28% and 36% of income
| Gross monthly income | $15,000.00 |
|---|---|
| 28% for housing | $4,200.00 |
| 36% for all debts, minus $0 other debts | $5,400.00 |
| Housing budget used (the lower) | $4,200.00 |
Stretching to the 36% line with no other debts would allow about $748,092. Property tax is 0.78% a year (Estimate: the median of the 32 state rates we have sourced); insurance is not included because no sourced average exists for this selection.
If rates move
| 30-year rate | Home price | Loan | Change |
|---|---|---|---|
| 6.03% | $633,883 | $570,495 | +$52,034 |
| 6.53% | $607,035 | $546,331 | +$25,186 |
| 7.03% this week's average | $581,849 | $523,664 | $0 |
| 7.53% | $558,219 | $502,397 | −$23,630 |
| 8.03% | $536,042 | $482,437 | −$45,808 |
Questions
How much house can I afford on $180,000 a year?
About $581,849 with 10% down at this week's 7.03% average, if the full payment stays at 28% of gross income ($4,200.00 a month). With 20% down, about $701,339.
What mortgage can I get with a $180,000 salary?
A $523,664 loan at 10% down under the 28% guideline. Lenders also check total debts: at 36% of income, all debt payments together should stay under $5,400.00 a month.
How much house can I afford on $180,000 with no down payment savings?
With 3% down, about $543,391. The smaller down payment adds PMI (estimated at 0.75% of the loan a year) until the balance reaches 78% of the price.
How does the rate change what I can afford?
Each point matters: at 6.03% the same budget buys about $633,883, and at 8.03% about $536,042.
Would a 15-year mortgage change the answer?
Yes. At the 6.42% 15-year average, the same payment supports about $465,997 because more of each payment goes to principal.
Sources
- 30-year fixed mortgage average: 7.03%. Freddie Mac Primary Mortgage Market Survey (PMMS), series MORTGAGE30US, as of September 24, 2026; retrieved September 26, 2026.
- 15-year fixed mortgage average: 6.42%. Freddie Mac Primary Mortgage Market Survey (PMMS), series MORTGAGE15US, as of September 24, 2026; retrieved September 26, 2026.
- Property tax (median effective rate by state). Tax Foundation, effective property tax rate on owner-occupied housing (Census ACS), Property Taxes by State, 2026 edition (2024 data). States not yet sourced use 0.78%, the median of the 32 state rates we have sourced, marked as an estimate.
- Homeowners insurance (average premium). NAIC homeowners report, 2022 data, HO-3 policies. Only states with a sourced figure include insurance.
- PMI assumption: 0.75% of the loan a year below 20% down. Typical range 0.5–1.5% (Urban Institute, Freddie Mac); ends at 78% of the original value under the Homeowners Protection Act (CFPB).
- 28/36 debt-to-income guideline. Lender guideline (Chase, Bankrate); CFPB debt-to-income guidance.
Numbers on this page last changed September 26, 2026. How they are calculated: methodology.