Calculate using real Thousand Oaks data. Median home price: $820,000. Property tax rate: 0.78%.
With the median household income of $112,480 in Thousand Oaks, CA, following the 28% rule, you could afford a monthly payment of about $2,625.
The cost of living index in Thousand Oaks, CA is 155 (national average = 100). A home at the median price of $820,000 would require roughly 7.3x the median income.
A conventional 20% down payment on the median Thousand Oaks, CA home ($820,000) would be $164,000. FHA loans may require as little as 3.5% ($28,700).