Finding ZIP codes that fit your budget
Most affordability calculators give you a single price. This tool turns your budget into a list of places. It works out the monthly housing payment you can comfortably carry, then checks every ZIP code in the state, or in the metro area around a ZIP code you choose, to see which ones fit at their median sale price.
How it works
Your housing budget is 36% of gross monthly income (or 43% for a stretch budget), minus your other monthly debt payments. For each ZIP code we estimate the payment on a home at its median sale price over the last three months: principal and interest at today’s average rate, property taxes at that county’s rate, insurance and estimated mortgage insurance when your down payment is under 20%. ZIP codes where that payment fits your budget are listed, along with how competitive each one is, so you can see where you’d face bidding wars.
An example
A household earning $140,000 a year with $400 in monthly car payments and $60,000 saved has about $3,800 a month for housing at the comfortable budget. In a state with 2% property taxes, that supports a home around the mid-$400,000s, and the list shows the ZIP codes whose typical home sells at or below that level.
Reading the results
- Best fit shows the ZIP codes closest to your budget first, usually the most home for your money.
- Least competitive shows places where fewer homes sell over asking, which can make offers easier.
- Property tax rates change the answer a lot: two ZIP codes with the same prices can differ by hundreds of dollars a month.
Limits to keep in mind
The median is the middle sale, so half the homes in each ZIP code sell for less. A ZIP code that’s slightly over budget may still have homes you can afford, especially smaller homes and condos. ZIP codes with very few recent sales are left out because their numbers swing too much.
Questions buyers ask
Where can I afford to live on my salary?
Enter your income, debts and savings above and choose a state or a ZIP code near where you want to live. The tool lists the ZIP codes whose typical home fits your budget.
Why does property tax matter so much?
It’s part of your monthly payment. In high-tax areas it can add $1,000 or more a month, which lowers the price you can afford.
Does this include HOA dues?
No. If you’re looking at condos or communities with HOA fees, leave room for them in your budget.