Calculate using real Macon data. Median home price: $130,000. Property tax rate: 1.05%.
With the median household income of $33,248 in Macon, GA, following the 28% rule, you could afford a monthly payment of about $776.
The cost of living index in Macon, GA is 78 (national average = 100). A home at the median price of $130,000 would require roughly 3.9x the median income.
A conventional 20% down payment on the median Macon, GA home ($130,000) would be $26,000. FHA loans may require as little as 3.5% ($4,550).