Calculate using real Pasadena data. Median home price: $215,000. Property tax rate: 1.9%.
With the median household income of $55,730 in Pasadena, TX, following the 28% rule, you could afford a monthly payment of about $1,300.
The cost of living index in Pasadena, TX is 88 (national average = 100). A home at the median price of $215,000 would require roughly 3.9x the median income.
A conventional 20% down payment on the median Pasadena, TX home ($215,000) would be $43,000. FHA loans may require as little as 3.5% ($7,525).