Calculate using real Los Angeles data. Median home price: $850,000. Property tax rate: 0.76%.
With the median household income of $75,902 in Los Angeles, CA, following the 28% rule, you could afford a monthly payment of about $1,771.
The cost of living index in Los Angeles, CA is 170 (national average = 100). A home at the median price of $850,000 would require roughly 11.2x the median income.
A conventional 20% down payment on the median Los Angeles, CA home ($850,000) would be $170,000. FHA loans may require as little as 3.5% ($29,750).