Calculate using real Rochester data. Median home price: $145,000. Property tax rate: 2.6%.
With the median household income of $39,225 in Rochester, NY, following the 28% rule, you could afford a monthly payment of about $915.
The cost of living index in Rochester, NY is 85 (national average = 100). A home at the median price of $145,000 would require roughly 3.7x the median income.
A conventional 20% down payment on the median Rochester, NY home ($145,000) would be $29,000. FHA loans may require as little as 3.5% ($5,075).