Calculate using real Augusta data. Median home price: $165,000. Property tax rate: 0.94%.
With the median household income of $41,272 in Augusta, GA, following the 28% rule, you could afford a monthly payment of about $963.
The cost of living index in Augusta, GA is 83 (national average = 100). A home at the median price of $165,000 would require roughly 4x the median income.
A conventional 20% down payment on the median Augusta, GA home ($165,000) would be $33,000. FHA loans may require as little as 3.5% ($5,775).