Calculate using real Yonkers data. Median home price: $520,000. Property tax rate: 1.65%.
With the median household income of $72,217 in Yonkers, NY, following the 28% rule, you could afford a monthly payment of about $1,685.
The cost of living index in Yonkers, NY is 135 (national average = 100). A home at the median price of $520,000 would require roughly 7.2x the median income.
A conventional 20% down payment on the median Yonkers, NY home ($520,000) would be $104,000. FHA loans may require as little as 3.5% ($18,200).