How much can you afford each month for housing?

Here’s a great article about how much of a monthly payment you can afford to stay within guidelines for buying a home. According to the author, if you keep your housing costs under 30%, you can only afford the following monthly payments.

• $30,000 income: $750
• $40,000 income: $1,000
• $50,000 income: $1,250
• $60,000 income: $1,500
• $70,000 income: $1,750
• $80,000 income: $2,000
• $90,000 income: $2,250
• $100,000 income: $2,500
• $110,000 income: $2,750
• $120,000 income: $3,000