ljubaphoto / Getty Images Who can afford to buy a home these days? We run the numbers to find out. Key Takeaways To test whether a home will be affordable, you can use the 28/36 rule. Another rule of thumb is not to take out a mortgage worth more than two or three times your household income. The typical (median) mortgage today is only affordable for couples—in just about every age group. A bigger yard. A real asset. A blank slate to make a place your own. Whatever your reason, buying a home is a ...

Before you dive into the house hunt, having a good handle on your budget is crucial — specifically, how much you can afford to pay monthly on your mortgage payment. There are several ways to gauge this, but one of the most popular strategies is called the “28/36 rule.” This rule can help you determine how much house you can afford. The 28/36 rule when buying a home The 28/36 rule is a common guideline for determining what you can spend on a home. The rule says you should spend no more than 28% of your g ...