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How much can you really afford?

The amount of house you can afford in Columbia comes down to a handful of numbers: your gross household income, your existing monthly debt, the down‑payment you can bring to the table and today’s mortgage rates. Financial planners typically point to the 28/36 rule, which says you shouldn’t spend more than about 28 % of your gross monthly income on housing costs and 36 % on all debt combined【336691483069955†L110-L123】. With a median household income in Columbia around $55,529【854193514019260†L48-L60】 and a median home value of roughly $221,883 in May 2026【485675498950596†L75-L121】, a typical household might comfortably purchase a home priced between $200,000 and $250,000 with a 10–20 % down payment. Buyers earning $75,000 to $100,000 per year often qualify for homes in the $250,000–$350,000 range, while entry‑level buyers with incomes under $50,000 will generally need to target neighborhoods where prices start under $200,000【485675498950596†L122-L128】. Use the guidelines below to refine your personal budget.