Find Your Max Home Price
The Complete Salary-to-Price Table (2026)
All figures use 28% rule, 20% down payment, 6.875% 30-year fixed rate, with no existing monthly debts. Property taxes and insurance are included in the housing budget calculation.
| Annual Salary | Monthly Budget | Max Loan | Max Home Price | Price/Salary Ratio | Monthly P&I |
|---|---|---|---|---|---|
| $50,000 | $1,167/mo | $177K | $221K | 4.4x | $1,167 |
| $60,000 | $1,400/mo | $212K | $265K | 4.4x | $1,397 |
| $70,000 | $1,633/mo | $248K | $310K | 4.4x | $1,634 |
| $80,000 | $1,867/mo | $283K | $354K | 4.4x | $1,866 |
| $100,000 | $2,333/mo | $354K | $443K | 4.4x | $2,333 |
| $120,000 | $2,800/mo | $425K | $531K | 4.4x | $2,801 |
| $150,000 | $3,500/mo | $531K | $664K | 4.4x | $3,500 |
| $175,000 | $4,083/mo | $620K | $775K | 4.4x | $4,086 |
| $200,000 | $4,667/mo | $708K | $885K | 4.4x | $4,667 |
| $250,000 | $5,833/mo | $885K | $1.1M | 4.4x | $5,833 |
| $300,000 | $7,000/mo | $1.06M | $1.33M | 4.4x | $7,000 |
| $350,000 | $8,167/mo | $1.24M | $1.55M | 4.4x | $8,167 |
| $400,000 | $9,333/mo | $1.42M | $1.77M | 4.4x | $9,333 |
| $500,000 | $11,667/mo | $1.77M | $2.21M | 4.4x | $11,667 |
The 4.4x rule: At today's 6.875% rate with 20% down, the 28% rule consistently yields a home price of roughly 4.4x gross annual salary. This is a useful mental shortcut — but remember it assumes no other debt and a 20% down payment.
How the 4.4x Ratio Changes With Debt and Rate
The 4.4x salary-to-price ratio isn't fixed — it shifts based on your mortgage rate, existing debts, and down payment percentage. Here's how:
| Scenario | $100K Salary Affords | $150K Salary Affords | $200K Salary Affords |
|---|---|---|---|
| 6.875%, no debt, 20% down (base) | $443K | $664K | $885K |
| 6.875%, $500/mo debt, 20% down | $376K | $597K | $818K |
| 6.875%, $1,000/mo debt, 20% down | $309K | $530K | $751K |
| 6.875%, no debt, 10% down | $394K | $590K | $787K |
| 6.875%, no debt, 30% down | $492K | $738K | $984K |
| 6.0% (if rates drop), no debt, 20% | $468K | $701K | $935K |
Co-op vs. Condo Pricing: Why the Same Budget Goes Further in Co-ops
NYC has a unique dynamic where the same budget gets you more space (or a better location) in a co-op than a condo. Historically, co-ops trade at 15–25% less per square foot than equivalent condos in the same building or neighborhood.
This means a $664,000 budget on $150K income stretches to a comparable $830K condo equivalent if you buy a co-op. The trade-off: board approval, typically 20–25% minimum down payment, restrictions on subletting, and monthly maintenance fees of $800–$2,000 that include property taxes.
Strategic insight: For buyers who qualify, co-ops in neighborhoods like Riverdale (Bronx), Forest Hills (Queens), or Bay Ridge (Brooklyn) offer the best price-per-square-foot value in the city. A $600K co-op in Forest Hills gets you a 2BR with a doorman — a comparable condo would be $750K+.
When the 4.4x Rule Breaks Down: NYC-Specific Warnings
High Maintenance Fees Reduce Your Effective Budget
If you're buying a co-op with $1,500/month maintenance, that $1,500 comes directly out of your 28% housing budget. On $150K income, your budget is $3,500/month. After maintenance, only $2,000 remains for mortgage P&I — supporting a $303K loan, not $531K. Your effective maximum home price drops from $664K to roughly $478K (loan + down payment).
Common Charges on NYC Condos
Condo buildings in NYC typically have common charges of $400–$1,500/month in addition to property taxes and your mortgage. These also count toward your housing expense ratio. High-amenity buildings (doorman, gym, pool, concierge) can have common charges of $2,000+/month.
The Mansion Tax
Purchases at $1M+ trigger New York's mansion tax: 1% on $1M–$2M, and graduated rates up to 3.9% above $25M. On a $1.1M purchase, the mansion tax alone is $12,375. This must be paid at closing in addition to other closing costs (2–4% of purchase price).
See How NYC Taxes Affect Your Paycheck
Your mortgage qualification uses gross income — but your actual budget runs on take-home pay. Know the difference.
Calculate NYC Take-Home Pay