Calculate using real Modesto data. Median home price: $380,000. Property tax rate: 0.82%.
With the median household income of $56,418 in Modesto, CA, following the 28% rule, you could afford a monthly payment of about $1,316.
The cost of living index in Modesto, CA is 105 (national average = 100). A home at the median price of $380,000 would require roughly 6.7x the median income.
A conventional 20% down payment on the median Modesto, CA home ($380,000) would be $76,000. FHA loans may require as little as 3.5% ($13,300).