Having of the home's value saved (for down payment and cash reserves).
: This traditional benchmark suggests spending no more than 28% of your gross monthly income on housing costs (principal, interest, taxes, and insurance) and no more than 36% on total debt. how much income is needed to buy a home
To comfortably afford a median-priced home in the United States as of April 2026, a household typically needs an annual income of approximately . This figure assumes a 20% down payment and standard mortgage terms, though actual requirements vary significantly based on your local market, existing debt, and down payment size. The Core Affordability Rules Having of the home's value saved (for down