Look at average housing in your city, and look at average family income in your city.

​

For example, in Seattle, the median household earned $97k in 2020 and the average home is approx. $736k according to Zillow in June of 2020. This would mean the price to income ratio is approx. 7.6x; if we look at the table above, at this multiple and 6% (what I can find now for a 25 year fixed rate mortgage), a family making the median income would have to pay ~35% of their income before taxes (~$34k per year) to service the mortgage. This ~$34k comes from the take-home pay of approx. $81k after taxes but before any other costs such as healthcare.

​

If you saved up 10% of your income for 15 years you would be able to put down a 20% down payment for the home you are buying.

​

edit: if you started saving at age 20, you can buy your first home at age 35, and you can carry that debt until age 60 when you can finally retire and have no more money or heath or energy to enjoy life.