Calculate using real Irving data. Median home price: $310,000. Property tax rate: 1.82%.
With the median household income of $63,158 in Irving, TX, following the 28% rule, you could afford a monthly payment of about $1,474.
The cost of living index in Irving, TX is 95 (national average = 100). A home at the median price of $310,000 would require roughly 4.9x the median income.
A conventional 20% down payment on the median Irving, TX home ($310,000) would be $62,000. FHA loans may require as little as 3.5% ($10,850).