Calculate using real Pomona data. Median home price: $510,000. Property tax rate: 0.82%.
With the median household income of $60,126 in Pomona, CA, following the 28% rule, you could afford a monthly payment of about $1,403.
The cost of living index in Pomona, CA is 115 (national average = 100). A home at the median price of $510,000 would require roughly 8.5x the median income.
A conventional 20% down payment on the median Pomona, CA home ($510,000) would be $102,000. FHA loans may require as little as 3.5% ($17,850).