NYC buying power · Complete budget
Set the ceiling before the search begins.
Translate income, debt, cash and recurring ownership expenses into a practical purchase range for a New York City condo, co-op or townhouse.
Use the calculatorHome affordability calculator
Estimate a purchase range you can pressure-test.
Enter income, recurring debts, available cash and ownership costs. Compare a conservative scenario with a higher-stretch case, then confirm the range with a lender and buyer’s agent.
With your income, this amount
Estimated Closing Costs
We estimate the closing costs to be . Click here to view all closing costs.
Purchase Price
You can afford a home priced at .
Amount Financed
Property Type
Estimated Closing Costs
A stronger buying range
Affordability is a cash-flow and liquidity decision.
Use the calculator to organize assumptions. Use documents, current quotes and licensed professionals to confirm the decision.
Income and debt
Gross income is only a starting point; recurring debt and housing expenses determine how much monthly capacity remains.
Down payment and closing costs
Keep the purchase deposit, closing expenses and renovation plans separate from the funds needed after closing.
Reserves and approval
Co-op boards, lenders and some condominiums may expect liquidity beyond the down payment and transaction costs.
Frequently asked questions
NYC home-affordability questions, answered.
What does the affordability calculator estimate?
It uses income, debts, cash and housing-cost assumptions to estimate a possible purchase price and payment range.
Why include common charges or co-op maintenance?
These recurring costs reduce the amount available for mortgage debt and can vary substantially between otherwise similar homes.
Should closing costs be deducted from the down payment?
No. Model them separately so the down payment, transaction costs and post-closing reserves are not counted twice.
Is the result a mortgage pre-approval?
No. A lender must review credit, income, assets, property type and loan guidelines before issuing a pre-approval or commitment.
Budget before inventory
Build the search around the outcome and the full cost.
Affordability framework
The maximum purchase price is not the same as the comfortable purchase price.
A complete affordability decision combines income, debt, cash to close, financing, monthly carrying costs and reserves that remain after the purchase.
Start with durable cash flow.
Base planning on income that can be documented and sustained rather than one unusually strong year or uncertain future compensation.
Existing obligations reduce flexibility.
Recurring debt payments compete with mortgage and housing costs and can affect both lender qualification and personal comfort.
Separate down payment from total cash required.
Closing costs, deposits, renovation and post-closing liquidity can require substantially more capital than the down payment alone.
Model the complete monthly housing cost.
Mortgage, maintenance or common charges, taxes, insurance and assessments determine the ongoing burden after closing.
Leave breathing room after the purchase.
Lenders, co-op boards and prudent buyers may all expect meaningful liquidity to remain after closing.
Test the plan against change.
Higher rates, assessments, repairs or a temporary income interruption should not immediately make the ownership plan fragile.
