Calculate using real Santa Ana data. Median home price: $720,000. Property tax rate: 0.76%.
With the median household income of $68,384 in Santa Ana, CA, following the 28% rule, you could afford a monthly payment of about $1,596.
The cost of living index in Santa Ana, CA is 155 (national average = 100). A home at the median price of $720,000 would require roughly 10.5x the median income.
A conventional 20% down payment on the median Santa Ana, CA home ($720,000) would be $144,000. FHA loans may require as little as 3.5% ($25,200).