How much house can I afford at 28 on $100k income? (single)
Devin, 28, in Charlotte, NC
exampleSingle, no kids · $100k/yr household income
They're renting in Charlotte and ready to buy their first place, without becoming house-poor.
28, single, $100k/yr, with $16k in liquid savings for a down payment (plus $48k in retirement, which is harder to use for one: penalties, taxes, or a loan). Most people overestimate how much house that buys. Here's the modeled number, and what changes it.
The setup
Age
28
Household income
$100,000/yr
Household
Single earner
Liquid savings
$16,000
Retirement savings
$48,000
Down payment
26–35%
Mortgage
6.5%, 30-yr fixed
Investing return
7%/yr
Wait 5 years and your $400,000 target becomes reachable
$485,000
Max home in 2031, $485,000 more than today's $0
Max Home Now
Not affordable
Max in 5yr
$485,000
Target Price
$400,000
Liquid Assets
$16,000
Your max home today is $0. By waiting 5 years, your max grows to $485,000, an additional $485,000 in buying power from savings and income growth.
| Scenario | Buy Year | Price | Down % | Monthly PITI | Cash Left | Retire NW | Retirement Feasible | Max Home |
|---|---|---|---|---|---|---|---|---|
| Now | 2026 | Keep renting | — | — | — | $10,668,069 ($3.6M in today's dollars) | Secure | Not affordable |
| 2yr | 2028 | Keep renting | — | — | — | $10,668,069 ($3.6M in today's dollars) | Secure | $395,000 |
| 5yr | 2031 | $400,000 | 26% | $2,404 | $54,015 | $10,315,002 ($3.5M in today's dollars) | Secure | $485,000 |
| 10yr | 2036 | $400,000 | 35% | $2,181 | $217,070 | $10,814,090 ($3.6M in today's dollars) | Secure | $590,000 |
Home ownership involves emotional and lifestyle factors beyond financial returns, community, stability, and personal fulfillment matter too. Max home prices reflect lender approval limits; your comfort level may be different.
Your real number depends on your savings, debts, and city. The averages above are a starting point. Model your exact situation and get your verdict.
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How much house can a single household earning $100k at 28 afford?
Wait 5 years and your $400,000 target becomes reachable
Max home in 2031, $485,000 more than today's $0
$485,000, modeled with Rightmont's projection engine for this exact scenario.
How was this calculated?
Rightmont runs your numbers through a year-by-year projection engine (taxes, compounding, Social Security, and your real cashflow) to model the outcome. Model your own version free in under a minute.
Related scenarios
For educational purposes only, not financial advice.