Calculate using real Concord data. Median home price: $650,000. Property tax rate: 0.78%.
With the median household income of $84,524 in Concord, CA, following the 28% rule, you could afford a monthly payment of about $1,972.
The cost of living index in Concord, CA is 142 (national average = 100). A home at the median price of $650,000 would require roughly 7.7x the median income.
A conventional 20% down payment on the median Concord, CA home ($650,000) would be $130,000. FHA loans may require as little as 3.5% ($22,750).