How much house can I afford on $115,000 a year?
On $115,000 a year you can afford a home up to about $425,000 with 20% down at 6.5% — roughly $2,680 a month. Adjust your down payment, rate and debts below, and see how it compares to your take-home pay.
📅 Updated for the 2026 tax year · built from primary IRS & state sources
Monthly payment breakdown
Reality check — against your take-home pay
Lenders qualify you on gross income, but you pay your mortgage from take-home pay. In Texas, $115,000 gross ≈ $7,478/month net.
A common guideline is keeping housing under ~30% of take-home pay.
How much house $115,000 a year qualifies for
Based on the 28/36 lender rule, 20% down, a 6.5% 30-year rate, 1.1% property tax and 0.4% insurance. Adjust all inputs above.
2026 federal income tax brackets (single filer)
Federal tax is progressive — each rate applies only to income within its band, after the standard deduction.
| Rate | Taxable income (single) |
|---|---|
| 10% | $0 – $12,400 |
| 12% | $12,400 – $50,400 |
| 22% | $50,400 – $105,700 |
| 24% | $105,700 – $201,775 |
| 32% | $201,775 – $256,225 |
| 35% | $256,225 – $640,600 |
| 37% | $640,600 and up |
- What is the 2026 standard deduction?
- $16,100 for single filers, $32,200 married filing jointly, and $24,150 for head of household. It's subtracted before the brackets above apply.
- What about Social Security and Medicare (FICA)?
- Social Security is 6.2% on wages up to $184,500 (2026); Medicare is 1.45% on all wages, plus an extra 0.9% above $200,000. These are withheld separately from federal income tax.
Source: IRS Revenue Procedure 2025-32 and IRS Publication 15-T (2026). See our methodology for full sources.
Frequently asked questions
How much house can I afford on $115,000 a year?
With 20% down at current rates, about $425,000 — a monthly payment near $2,680, based on the standard 28/36 lender rule.
What mortgage payment can I afford on $115,000?
Lenders cap housing at about 28% of gross monthly income — roughly $2,683 per month on $115,000.
Is $115,000 enough to buy a house?
It can support roughly a $425,000 home. But from take-home pay (~$7,478/month), that payment is about 36% of your net — aim to keep housing under ~30% of take-home.
How much down payment do I need on $115,000?
A 20% down payment on a $425,000 home is $85,000. A 3.5% FHA loan needs far less up front but adds monthly PMI.
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