Calculate using real Austin data. Median home price: $425,000. Property tax rate: 1.68%.
With the median household income of $80,954 in Austin, TX, following the 28% rule, you could afford a monthly payment of about $1,889.
The cost of living index in Austin, TX is 110 (national average = 100). A home at the median price of $425,000 would require roughly 5.2x the median income.
A conventional 20% down payment on the median Austin, TX home ($425,000) would be $85,000. FHA loans may require as little as 3.5% ($14,875).