Home Affordability Calculator NYC
🏠 NYC Home Affordability Calculator
Find out exactly how much home you can afford in New York City — based on your real income, debts, and the current NYC market.
Your Income & Finances
Combined income for all borrowers before taxes
Car loans, student loans, credit cards (minimum payments)
Cash available for down payment (not including closing costs)
Loan & Market Settings
Current 30-yr fixed avg ~6.75% (March 2026)
Maximum Home Price You Can Afford
$0
Monthly Payment
$0
Down Payment
0%
DTI Ratio
0%
Loan Amount
$0
📍 Staten Island Market Context (2026)
How NYC Lenders Calculate Affordability
The 28/36 Rule
- Front-End Ratio (28%): Your total housing cost (mortgage + taxes + insurance) should not exceed 28% of gross monthly income
- Back-End Ratio (36–45%): Your total monthly debt including housing should not exceed 36–45% of gross income (lenders vary)
- FHA loans allow up to 31% front-end and 43% back-end DTI
- VA loans focus primarily on residual income, not DTI ratios
NYC-Specific Costs to Budget For
- Property Taxes: Staten Island ~1.1–1.4% annually; Brooklyn 1.2–1.8%
- Homeowner’s Insurance: ~$1,200–$2,500/year in NYC
- Closing Costs: 2–5% of purchase price (use our Closing Cost Calculator)
- Mansion Tax: 1% on purchases over $1,000,000 in NYC
- Flood Insurance: Required in FEMA flood zones; $500–$3,000/year
⚠️ Disclaimer: This calculator provides estimates for educational purposes only. Actual loan approval depends on full underwriting review including credit history, employment verification, assets, and property appraisal. Consult a licensed mortgage lender for a formal pre-approval.
Ready to Start Your Search?
Let’s find homes in your budget on Staten Island or Brooklyn. I’ll help you get pre-approved and into the right home.
Are You a Veteran? VA Loans Change This Math
If you’ve served, the VA home loan eligibility on Staten Island changes the down payment and PMI inputs in this calculator dramatically. VA loans allow 0% down, no PMI, and 2026 Richmond County loan limits of $1,089,300 — which covers the full Staten Island median home price. Read the full VA Home Loans Staten Island 2026 Guide before you run your numbers, or compare paths with the best agent for veterans buying on Staten Island writeup.