What the math assumes
- Principal and interest on a fixed-rate loan
- Estimated property tax and home insurance
- Existing monthly debt payments
- Cash available after estimated 3% closing costs
- A total debt-to-income target of 36% (adjustable)
AffordLensKnow what the house really costs
How much house can you afford on a $120k salary?
On a $120,000 salary, most buyers clear the basic qualification bar and the real question becomes comfort: the same payment that looks fine on paper can feel very different once childcare, savings goals, and upkeep enter the picture.
With typical assumptions — 6.25% fixed rate, 30-year term, 36% total debt-to-income target — a $120k income points to roughly a $439k home at about $3,000/month before upkeep and utilities. Adjust the numbers below to your situation; the verdict updates instantly.
$120k salary calculator
Pre-seeded with a $120k income. Change any assumption — the estimate and verdict recalculate immediately.
Estimated affordable home price
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Compare other salary bands
The same math, different income. See where the ceiling lands across the range.
Read the result carefully
This is a planning ceiling, not a lender pre-approval. The monthly estimate excludes mortgage insurance, maintenance, utilities, and special assessments. Rates, taxes, insurance, and underwriting rules vary — and your comfort level matters as much as the qualification math.
Common questions
What mortgage can I afford on a $120k salary?
A common rule of thumb caps housing at 28% of gross monthly income and total debt at 36%. On $120k, that is roughly $3,000/month for housing costs — which, at current rates, supports around a $439k home with a typical down payment.
How much house can I afford on $120k with no debt?
With no monthly debts, the full 36% debt-to-income allowance goes to housing, which raises the ceiling noticeably. Enter 0 for monthly debts above to see your number — it is often 15–25% higher than the default estimate.
Does the $439k estimate include taxes and insurance?
Yes. The estimate bundles principal and interest with property tax and home insurance estimates, plus any HOA dues you enter. It does not include mortgage insurance, maintenance, utilities, or special assessments.
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