Can I Afford a $100K Home in Georgia?
Complete mortgage breakdown for a $100,000 home in Georgia, including monthly payments, property taxes, insurance, and the salary you need to qualify.
Estimated Monthly Payment (20% down)
$761/mo
P&I: $526 + Tax: $69 + Insurance: $167
Monthly Payment by Down Payment
| Down Payment | Amount | Monthly | Income Needed |
|---|---|---|---|
| 3% | $3,000 | $913 | $39,149 |
| 5% | $5,000 | $899 | $38,550 |
| 10% | $10,000 | $865 | $37,053 |
| 20% | $20,000 | $761 | $32,630 |
Monthly Cost Breakdown (Georgia)
Principal & Interest
$526/mo
Property Tax (0.83%)
$69/mo
Homeowners Insurance
$167/mo
Total Interest (30-yr)
$109,195
Affordability Rules of Thumb
28% Rule (Housing)
$32,630/yr
Minimum gross income
36% Rule (All Debt)
$25,379/yr
If no other debt
3Ã Income Rule
$33,333/yr
Conservative target
Buying a $100K Home in Georgia
A $100,000 home in Georgia is at or below the national median home price. With a 20% down payment of $20,000, your estimated monthly payment of $761 is achievable on a salary of $32,630 or more. Georgia's property tax rate of 0.83% is near the national average.
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 Georgia.