Calculate using real Carrollton data. Median home price: $345,000. Property tax rate: 1.82%.
With the median household income of $78,234 in Carrollton, TX, following the 28% rule, you could afford a monthly payment of about $1,825.
The cost of living index in Carrollton, TX is 95 (national average = 100). A home at the median price of $345,000 would require roughly 4.4x the median income.
A conventional 20% down payment on the median Carrollton, TX home ($345,000) would be $69,000. FHA loans may require as little as 3.5% ($12,075).