Calculate using real Sacramento data. Median home price: $425,000. Property tax rate: 0.78%.
With the median household income of $67,151 in Sacramento, CA, following the 28% rule, you could afford a monthly payment of about $1,567.
The cost of living index in Sacramento, CA is 115 (national average = 100). A home at the median price of $425,000 would require roughly 6.3x the median income.
A conventional 20% down payment on the median Sacramento, CA home ($425,000) would be $85,000. FHA loans may require as little as 3.5% ($14,875).