Can I Afford a $350K Home in California?
Complete mortgage breakdown for a $350,000 home in California, including monthly payments, property taxes, insurance, and the salary you need to qualify.
Estimated Monthly Payment (20% down)
$2,180/mo
P&I: $1,839 + Tax: $207 + Insurance: $133
Monthly Payment by Down Payment
| Down Payment | Amount | Monthly | Income Needed |
|---|---|---|---|
| 3% | $10,500 | $2,712 | $116,235 |
| 5% | $17,500 | $2,663 | $114,139 |
| 10% | $35,000 | $2,541 | $108,900 |
| 20% | $70,000 | $2,180 | $93,421 |
Monthly Cost Breakdown (California)
Principal & Interest
$1,839/mo
Property Tax (0.71%)
$207/mo
Homeowners Insurance
$133/mo
Total Interest (30-yr)
$382,184
Affordability Rules of Thumb
28% Rule (Housing)
$93,421/yr
Minimum gross income
36% Rule (All Debt)
$72,661/yr
If no other debt
3Ã Income Rule
$116,667/yr
Conservative target
Buying a $350K Home in California
A $350,000 home in California falls in the mid-range of the housing market. At $2,180/month with 20% down, you'll need a household income of about $93,421 to comfortably afford this home under the 28% rule. Property taxes in California (0.71%) add $207 monthly to your costs.
These estimates assume a 6.875% 30-year fixed mortgage rate. Use our mortgage calculator for custom scenarios, or check what salary you can afford in California.