Buying the median Tampa, FL home ($380,000) at a 6.5 percent rate with 10 percent down takes about $124,515 of household income once the real local property tax and home insurance are counted — roughly $59,515 more than the metro’s median household earns. Pick your metro and drag the sliders to your own numbers; everything runs in your browser and nothing you enter is stored or sent.
Your Metro’s Number
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Principal & interest $2,162 · property tax $342 · home insurance $402 /mo — tax and insurance are Tampa, FL actuals.
That’s $59,515 more than the median Tampa, FL household earns ($65,000). Where you sit depends on your rate — and rates are quoted person by person.
See rates for your ZIPWhat the Calculation Includes
Most affordability math stops at the mortgage payment. This calculator prices the whole monthly bill for your metro’s median home: principal and interest on a 30-year fixed loan at the rate you set, your metro’s actual property-tax rate, and its actual average home-insurance premium from our 2026-Q2 data layer. That full cost then has to fit inside 28 percent of gross income — the front-end benchmark lenders start from (our how-much-house guide covers the 28/36 rule in depth; the CFPB explains the debt side in the sources below).
Insurance is what national calculators miss. On the default Tampa, FL scenario it adds $402 a month — taxes and insurance together are $744 of the $2,905 bill. In a coastal Florida metro that line item alone can swing the required income by tens of thousands of dollars against an inland metro with the same listing price.
The Income Gap, Metro by Metro
Across the 36 metros we track, these are the eight widest gaps between the income a median home requires (at 6.5% with 10% down) and what the median household actually earns:
| Metro | Median home | Income required | Median income | Gap |
|---|---|---|---|---|
| San Jose, CA | $1,453,000 | $422,711 | $120,000 | $302,711 |
| Los Angeles, CA | $951,000 | $283,644 | $74,000 | $209,644 |
| San Diego, CA | $950,000 | $278,036 | $82,000 | $196,036 |
| Scottsdale, AZ | $783,000 | $228,502 | $88,000 | $140,502 |
| Miami, FL | $582,000 | $181,663 | $62,000 | $119,663 |
| Boca Raton, FL | $569,000 | $178,207 | $74,000 | $104,207 |
| Fort Lauderdale, FL | $512,000 | $162,207 | $67,000 | $95,207 |
| Austin, TX | $513,000 | $172,649 | $82,000 | $90,649 |
Every metro’s underlying numbers — prices, tax rates, premiums, incomes — are in the Financial Data Explorer.
Three Ways to Close the Gap
Bring the rate down. On the default scenario, each half-point off the rate cuts the required income by thousands of dollars a year — drag the rate slider and watch. Rate shopping between lenders, buying points, and a stronger credit score all move it; see what score gets which rates and how to get preapproved so quotes are real.
Put more down. The down-payment slider shrinks the loan directly, and clearing 20 percent also drops PMI (which this calculator doesn’t count — another reason to treat its result as a floor). An FHA loan lowers the entry bar to 3.5 percent down but adds mortgage insurance to the monthly bill.
Change the denominator. The same income buys very different homes across our 36 metros — the table above is the argument. If you’re flexible, run your income against a cheaper metro before stretching past 28 percent in an expensive one.
Frequently Asked Questions
How is the required income calculated?
The calculator totals the full monthly housing cost — principal and interest on a 30-year fixed loan at your rate, plus your metro's actual property-tax rate and average home-insurance premium — and requires it to fit within 28 percent of gross income, the standard front-end benchmark lenders start from. Your other debts can lower what you personally qualify for.
Why does the answer change so much between metros?
Three local numbers move it: the median home price, the property-tax rate, and home insurance. Insurance is the sleeper — a Florida premium can add hundreds of dollars a month that an identical price tag in North Carolina doesn't carry, which is why two metros with the same home price can need very different incomes.
What mortgage rate should I enter?
Use a rate you have actually been quoted, or leave the default and treat the result as a scenario. Rates move daily and vary by credit score, points, and loan type, so the slider exists precisely because no single published number fits everyone.
Does the calculator include HOA dues or PMI?
No. HOA dues vary by property, and PMI applies below 20 percent down and varies by credit. Both raise the real required income, so treat the result as a floor — and one more reason the 28 percent benchmark is worth respecting.
Is anything I enter saved or shared?
No. The metro picker and sliders run entirely in your browser. Nothing is stored, sent to us, or shared, and using the calculator never affects your credit.
