Calculate using real Tulsa data. Median home price: $185,000. Property tax rate: 0.9%.
With the median household income of $48,102 in Tulsa, OK, following the 28% rule, you could afford a monthly payment of about $1,122.
The cost of living index in Tulsa, OK is 83 (national average = 100). A home at the median price of $185,000 would require roughly 3.8x the median income.
A conventional 20% down payment on the median Tulsa, OK home ($185,000) would be $37,000. FHA loans may require as little as 3.5% ($6,475).