House reality check
Can I Afford a $300,000 House?
$300,000 is the realistic mid-tier starter price across most of the country. The big variable: the down payment determines how brutal the first year actually feels.
Estimates only. Not mortgage approval, not lender precision, not legal or tax advice.
Default verdict (you can edit any of this)
Manageable
Workable on $80k–$100k gross with modest other debt and a 10%+ down payment.
At 7% / 30 years with 10% down ($30k), P&I is about $1,800/mo. Add ~$275 in property tax, $120 insurance, and ~$130 PMI and the all-in monthly is ~$2,325. That's manageable on $7,500/mo gross ($90k/yr) with under $400/mo in other debt. Push the down payment to 20% and the PMI disappears, dropping the all-in to ~$2,200.
- All-in monthly
- $2,321
- Income needed (28% rule)
- $99,485
- Housing % of gross
- 31.0%
- Total DTI
- 35.6%
Costs people forget
The line items that don’t show up on the loan estimate but absolutely show up in the bank account.
$300k home insurance — coastal premiums hurt
Inland markets land near $120/mo. Florida / Texas Gulf / wildfire areas can hit $250–$400/mo.
Property tax math swings the budget
1% TX vs 1% CA vs 2.2% NJ on a $300k home is the difference between $250/mo and $550/mo.
PMI removal isn't automatic
Lenders drop PMI at 22% equity by law; you can request earlier at 20%. Mark your calendar.
Sinking funds matter at this price
Roof replacement: $8–$15k. HVAC: $5–$10k. Sewer: $3–$8k. They all eventually happen.
Closing-cost cash: $6–$15k
Inspections, title, lender, prepaid escrows. Not financed into the mortgage.
Moving + furnishings: $5–$15k first year
Especially if the previous place was smaller. Larger house = more couches.
Reality check before you bid
$300k house + $90k income + low other debt = roughly 31% housing ratio. Tight on 'comfortable' but solidly in 'manageable'.
Drop the down to 5% and PMI jumps to ~$200/mo. The math gets harder fast at low LTV.
Run the numbers with your actual property-tax rate — 2%+ areas push the same house into 'stretching'.
Don't drain savings to hit 20% down — keep at least 3 months of expenses in cash after closing.
What salary carries a $300,000 house?
A few salary reality checks that line up reasonably with this price point.
- Salary$80,000First salary where the budget genuinely breathes — provided you pick which upgrade you actually want.Open the salary check
- Salary$100,000Feels like real money. Quietly disappears at the same speed any other salary does if you don't watch the savings rate.Open the salary check
- Salary$120,000Real money. Real choices required. The savings rate is still the headline.Open the salary check
Cars that fit a $300,000 household
Curated picks. Open a car page to run the affordability calculator with your real income and APR.
Build this house into something bigger
FAQ: Affording a $300,000 house
Short, honest answers — not pre-approval.
What income do I need for a $300,000 house?
$80,000–$100,000 a year keeps the housing payment near 28% of gross — assuming modest other debt and an average-tax state. Higher in high-tax markets.What is the monthly payment on a $300,000 house?
At 7% on a 30-year mortgage with 10% down: roughly $2,200–$2,400 all-in (P&I + tax + insurance + PMI). 20% down drops it ~$130 by removing PMI.How much down payment do I need for a $300,000 home?
3.5% FHA = $10,500; 5% conventional = $15,000; 10% conventional = $30,000; 20% to skip PMI = $60,000. Plus 2-5% in closing costs.Are taxes and insurance included?
Yes — we add monthly property tax (annual / 12), insurance, HOA, and PMI. Edit each field for your specific numbers.Is this a guarantee from a lender?
No. This is educational ballpark math. Lender approval depends on credit, employment, reserves, and dozens of underwriting overlays no website models.
This is not financial advice
CanYouAffordIt is for entertainment and ballpark planning only. Real insurance quotes, sales tax rules, dealer fees, loan approvals, and maintenance costs vary by location, vehicle, and credit profile. Before signing a contract, talk to a human you trust — and read the fine print.
See also other house reality checks: $200,000 house, $250,000 house, $350,000 house, $400,000 house, $450,000 house, $500,000 house, $600,000 house, $750,000 house, $1,000,000 house, $1,500,000 house. Canonical: https://trycanyouaffordit.com/can-i-afford-a-300000-house.