Affordability at $75K
Affordable purchase range and rent comparison at $75K salary by market
| Market | Affordable Home Range | Monthly PITI | Alternative Rent |
|---|---|---|---|
| Columbus, OH | $280,000–$330,000 | $1,700–$2,000 | $1,500 |
| Charlotte, NC | $280,000–$330,000 | $1,700–$2,000 | $1,650 |
| Nashville, TN | $330,000–$380,000 | $2,000–$2,300 | $1,900 |
| Denver, CO | $420,000 | $2,600 | $2,100 |
| Austin, TX | $380,000 | $2,350 | $2,000 |
Buying: $310,000 home, $31,000 down (10%), 6.5%, $1,920 PITI + $180 maintenance = $2,100/month total cost. Renting: $1,500/month. Monthly buying premium: $600. But equity builds: $12,000/year. After 7 years: buying wins by $28,000 total, even accounting for invested rent savings difference.
Where Renting Still Wins on $75K
Even at $75K, renting wins when: (1) you’re in a high P/R ratio market (above 22); (2) you’ll likely move within 4 years; (3) home appreciation is expected to be low; or (4) your down payment would earn more than the equity building rate. The calculator reveals the crossover for your specific situation.
The Down Payment Opportunity Cost at $75K
A $30,000 down payment on a $300,000 home represents 40% of annual income. Invested at 7% over 10 years: $59,000. The home appreciation and equity building over the same period must exceed this alternative to justify buying purely on financial grounds.
Compare the Full 10-Year Picture for Your Market
Your income opens options — but the market still determines the right choice.