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Home Affordability Calculator San Francisco, CA — 2026
Median home price in San Francisco: $1,300,000. At 6.5% on a 30-year loan with 20% down, the estimated total monthly payment (PITI) is $7,864 — requiring $337,029/year in gross income. Enter your income below for a personalised estimate.
Reviewed for accuracy June 2026 by Gary S.
Median home price
$1,300,000
Income needed (annual)
$337,029
Est. monthly PITI
$7,864
Property tax/month
$802
Car loans, student loans, credit cards
Strong buying position — $592,243 max with healthy ratios
A 44% down payment clears the 20% threshold on a $592,243 home — no PMI, immediate equity buffer, and access to better rates. Existing debts leave adequate room in the 36% DTI cap.
- ›Max monthly housing payment: $2,100 (28% of gross monthly income)
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How much house can you afford in San Francisco at your salary?
Maximum home price at each income level: 6.5% rate, 30-year term, 20% down payment, no existing debt. Property tax (0.74%) and insurance (0.45%) included in the 28% front-end DTI budget.
| Annual income | Max home price | Max monthly budget | Affords San Francisco median? |
|---|---|---|---|
| $50,000 | $192,886 | $1,167/mo | ✗ No |
| $75,000 | $289,330 | $1,750/mo | ✗ No |
| $100,000 | $385,773 | $2,333/mo | ✗ No |
| $125,000 | $482,216 | $2,917/mo | ✗ No |
| $150,000 | $578,659 | $3,500/mo | ✗ No |
| $175,000 | $675,102 | $4,083/mo | ✗ No |
| $200,000 | $771,545 | $4,667/mo | ✗ No |
Assumes 20% down, 6.5% rate, 30-year term, zero existing monthly debt. Property tax at 0.74% effective rate; insurance estimated at 0.45% annually. PMI required below 20% down — not included here.
Monthly payment breakdown on the median San Francisco home
$1,300,000 purchase price with 20% down ($260,000) at 6.5% on a 30-year loan.
Principal & interest (30yr)
$6,574/month on a $1,040,000 loan at 6.5% over 30 years. Total interest paid over the life of the loan: $1,326,640.
Property tax (0.74% effective rate)
$802/month ($9,624/year). San Francisco's 0.74% effective property tax rate reflects Prop 13 on older properties. New buyers pay approximately 1.18–1.25% of purchase price, which on a $1.3M home translates to approximately $1,280–$1,354/month in property taxes — a major ongoing commitment beyond the mortgage payment.
Homeowners insurance (est.)
$488/month estimated at 0.45% of home value annually. Rates vary significantly by coverage level, age of home, and local risk factors — always get quotes before closing.
Total PITI (monthly)
$7,864/month estimated. Income needed to keep this under 28% of gross monthly income: $337,029/year.
Down payment options for San Francisco buyers: 3.5%, 10%, and 20% compared
The down payment is the biggest hurdle for most first-time buyers in San Francisco. You do not need 20% to buy — but the percentage you put down directly determines your monthly payment, whether you pay PMI, and your loan options. Here is how the three most common down payment levels compare on San Francisco's $1,300,000 median home at a 6.5% rate.
| Down payment | Cash needed | Loan amount | Monthly P&I | Est. PMI/mo |
|---|---|---|---|---|
| 3.5% (FHA minimum) | $45,500 | $1,254,500 | $7,930/mo | $941/mo |
| 10% | $130,000 | $1,170,000 | $7,396/mo | $878/mo |
| 20% (no PMI) | $260,000 | $1,040,000 | $6,574/mo | — |
P&I at 6.5% 30-year. PMI estimated at 0.9% of loan amount annually — actual rate varies by lender and credit score. Tax and insurance not included in this table.
FHA loans (insured by the Federal Housing Administration) allow down payments as low as 3.5% with credit scores of 580+. The trade-off: FHA loans require both an upfront mortgage insurance premium (1.75% of the loan amount, typically rolled into the loan) and an annual MIP of approximately 0.55–0.85% of the loan balance — which does not automatically cancel when you reach 20% equity, unlike conventional PMI. For buyers who can manage a 10% down payment, a conventional loan with cancellable PMI is usually more cost-effective long-term than an FHA loan.
Closing the affordability gap in San Francisco
If the numbers above show that San Francisco's median home is currently out of reach, there are several strategies that can close the gap without waiting years to save. Down payment assistance (DPA) programs — offered through state housing finance agencies, local governments, and select lenders — can provide grants or low-interest second loans of $5,000–$30,000+ toward the down payment and closing costs. Most DPA programs require the buyer to be a first-time purchaser (or not have owned in the past 3 years), meet income limits (typically 80–120% of area median income), and complete a HUD-approved homebuyer education course.
A less expensive home in a nearby neighbourhood or suburb can dramatically change the numbers. Buying at $1,040,000 — 20% below the city median — reduces the required income from $337,029/year to approximately $269,623/year and cuts the down payment by $52,000. Expanding the search radius is often the most practical path to homeownership in high-cost metros.
Improving your debt-to-income ratio (DTI) is the other primary lever. Every $500/month you eliminate in existing debt payments (student loans, car loans, credit cards) increases your maximum qualifying home price by approximately $82,666. Paying off a car loan or consolidating student debt before applying can meaningfully expand your buying power without changing your income.
San Francisco housing market 2026
San Francisco is the most expensive per-square-foot housing market in the continental US. Prices fluctuate with tech sector employment — the 2022–2023 tech layoff cycle meaningfully softened condo prices, but single-family home prices remain among the highest nationally. Transfer tax in SF can reach 2.75% for sales above $10M; standard sales face 0.75%.
Key numbers for San Francisco buyers
- Median home price: $1,300,000 (2026 estimate)
- 20% down payment: $260,000
- Loan amount (80% LTV): $1,040,000
- Monthly P&I at 6.5% / 30yr: $6,574
- Monthly P&I at 6.5% / 15yr: $9,059
- Est. PITI (P&I + tax + insurance): $7,864/month
- Income needed (28% front-end DTI): $337,029/year
Compare home affordability by city
📍 Los Angeles, CA
Median $900,000 · income needed $244,543/yr · 1.09% tax
📍 Chicago, IL
Median $330,000 · income needed $101,614/yr · 2.1% tax
📍 Houston, TX
Median $290,000 · income needed $89,143/yr · 2.09% tax
📍 Phoenix, AZ
Median $400,000 · income needed $102,429/yr · 0.65% tax
📍 Miami, FL
Median $580,000 · income needed $155,143/yr · 0.97% tax
📍 Seattle, WA
Median $740,000 · income needed $195,257/yr · 0.87% tax
📍 Denver, CO
Median $560,000 · income needed $141,171/yr · 0.54% tax
📍 Austin, TX
Median $525,000 · income needed $161,614/yr · 2.1% tax
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All guides →What Salary Do I Need for a $400K House? The Exact Math (2026)
You need about $109,000/year for a $400,000 house with 20% down at 6.5% (28% DTI standard; $2,539 PITI). With 10% down it rises to ~$126,000; with $1,000/mo of debts, ~$118,000. Full breakdown with rate sensitivity.
How to Calculate Home Affordability: The 4 Rules Lenders Use
Home affordability is calculated using four ratios: the 28% front-end rule, the 36% back-end rule, the 43% DTI ceiling, and the 3x–5x income rule. Most buyers are constrained by their back-end DTI, not their income. A worked example shows exactly what you can borrow at $90,000 gross income with $500/month in existing debt.
How to Remove PMI: When It Cancels Automatically and How to Request It Early
PMI cancels automatically at 78% LTV but you can request removal at 80%. With appreciation, a new appraisal can eliminate PMI years earlier. At $1,200/year per $200,000 borrowed, removing PMI 5 years early saves $6,000. Here is the exact process, the lender rules, and when refinancing beats an appraisal.
Home affordability San Francisco — frequently asked questions
How much house can I afford in San Francisco?
On a $100,000 annual income with no other debt, 20% down, and a 6.5% 30-year mortgage, you can afford approximately $385,773 in San Francisco. The median home price in San Francisco is $1,300,000, which requires approximately $337,029/year in gross income using the 28% front-end DTI rule (principal, interest, property tax, and insurance all within 28% of gross monthly income).
What income do I need to buy a home in San Francisco?
To afford San Francisco's median home price of $1,300,000 at 6.5% on a 30-year loan with 20% down, you need approximately $337,029/year in gross income. This assumes the full PITI payment of $7,864/month (P&I $6,574 + property tax $802 + insurance $488) stays within 28% of gross monthly income. Existing debts reduce this buying power further.
What is the median home price in San Francisco in 2026?
The estimated median home price in San Francisco in 2026 is approximately $1,300,000. This varies significantly by neighbourhood — enter the specific purchase price you are evaluating in the calculator above for a personalised estimate.
What are property taxes in San Francisco?
San Francisco, CA's effective property tax rate is approximately 0.74%. On a $1,300,000 home, that is roughly $802/month or $9,624/year in property taxes. San Francisco's 0.74% effective property tax rate reflects Prop 13 on older properties. New buyers pay approximately 1.18–1.25% of purchase price, which on a $1.3M home translates to approximately $1,280–$1,354/month in property taxes — a major ongoing commitment beyond the mortgage payment.
Is San Francisco affordable to buy in 2026?
San Francisco's median home price of $1,300,000 requires an annual gross income of approximately $337,029 to qualify under the 28% front-end DTI rule at 6.5% with 20% down. The estimated total monthly payment (PITI) is $7,864/month. San Francisco is the most expensive per-square-foot housing market in the continental US.