How much house can I afford?

Most Florida buyers can afford a home priced at roughly 3 to 4.5 times their annual gross income, but the real answer depends on your debt-to-income ratio, down payment, and credit. Lenders generally want your total monthly housing payment under 28% of gross monthly income and all debts under 43%.

A buyer earning $80,000 a year with little other debt can often qualify for a payment around $1,900 to $2,300, which translates to a home in the $300,000 to $360,000 range at today's rates. Property taxes and Florida homeowners insurance eat into that budget, so run the numbers with our affordability calculator before you shop.

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