09/01/2026
"Can I afford a $300K house on a $70K salary?" 🏡
Honest broker answer nobody gives you: it depends more on YOUR STATE than on YOUR SALARY.
Same $70K income, same $300K house, same 6.66% rate, 5% down:
✅ Idaho: ~$2,200/mo, comfortable
✅ Colorado: ~$2,225/mo, comfortable
✅ Virginia: ~$2,280/mo, qualifies
✅ Non-coastal Florida: ~$2,375/mo, qualifies
⚠️ Texas: ~$2,645/mo, right at the 45% conventional cap. Any car payment breaks the file.
❌ Coastal Florida: fails at 5% down. Hurricane insurance runs $6,000-$12,000/year.
Why: property tax and homeowners insurance vary 3x across markets on the same-priced home.
Two levers most first-time buyers underestimate:
📉 Every $200/month of existing debt cuts $25K off your max qualifying purchase price
📈 Every 5% additional down payment cuts $80-110/month off your PITI
The buyer with $500/month in car and student loans needs a $60K salary bump to buy the SAME house as the debt-free buyer.
Full state-by-state math + down payment sensitivity 👇
Real state-by-state math for 70K salary buyers targeting a 300K home. Works in most states with 5-10% down and clean debt; tight in Texas, fails in coastal Florida. Full breakdown.
