CALCMONEY // HOME AFFORDABILITY // CA // DEL MAR
How much house can you afford in Del Mar? Based on local median home prices, current CA mortgage rates, and Del Mar property tax data.
$2,400,000
$15,781/mo
$676,328/yr
$1,236,788
Monthly housing costs of $15,781 represent 45.6% of Del Mar's median gross monthly income ($34,583/mo). At 45.6%, median-income buyers in Del Mar are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $2,400,000 |
| Down Payment (20%) | $480,000 |
| Loan Amount | $1,920,000 |
| Monthly PI Payment | $12,581 |
| Monthly Property Tax | $2,200 |
| Monthly Insurance Est. | $1,000 |
| Total Monthly PITI | $15,781 |
| Housing Cost % of Income | 45.6% |
| Required Income (28% rule) | $676,328/yr |
| Max Affordable Home | $1,236,788 |
$84,000
$20,016/mo
Del Mar Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $2,400,000 | Del Mar city median |
| Down Payment (20%) | $480,000 | Conventional loan |
| Monthly PITI | $15,781 | 6.85% rate, 30yr fixed |
| Required Income (28% rule) | $676,328 | Annual gross |
| Max Affordable Home | $1,236,788 | Based on median income |
| FHA Down (3.5%) | $84,000 | Minimum FHA |
| Housing Cost % of Income | 45.6% | Median income: $415,000/yr |
| Property Tax Rate | 1.1% | $26,400/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Del Mar is $2,400,000, with a local 30-year mortgage rate of 6.85%. A buyer putting 20% down carries a loan of $1,920,000, generating a monthly P&I payment of $12,581. Adding property taxes ($2,200/mo) and homeowners insurance ($1,000/mo) brings total monthly PITI to $15,781.
Del Mar's property tax rate of 1.1% is near the national average, adding a standard increment to monthly housing costs. On the Del Mar median home, that is $2,200/month, or $26,400 per year.
California levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Del Mar should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Del Mar's median income of $415,000/year can afford up to $9,683/month in total housing costs. Based on Del Mar's mortgage rate of 6.85% and property tax rate of 1.1%, that translates to a maximum affordable home price of approximately $1,236,788 with 20% down on a 30-year loan.
To afford the median Del Mar home priced at $2,400,000, you need an annual gross income of approximately $676,328. Total monthly housing costs (principal and interest of $12,581, property taxes of $2,200, and insurance of $1,000) come to $15,781/month, which equals 28% of the required income.
At the median home price of $2,400,000 and median household income of $415,000, the total monthly housing cost of $15,781 represents 45.6% of gross monthly income. This is well above the standard 28% threshold, making Del Mar a challenging market for buyers at median income.
A conventional 20% down payment on the median Del Mar home of $2,400,000 is $480,000. An FHA loan requires just 3.5% down — $84,000 — but adds mortgage insurance of roughly $1,641/month, bringing total FHA payments to $20,016/month.
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