CALCMONEY // HOME AFFORDABILITY // CA // FOLSOM
How much house can you afford in Folsom? Based on local median home prices, current CA mortgage rates, and Folsom property tax data.
$750,000
$4,932/mo
$211,352/yr
$378,985
Monthly housing costs of $4,932 represent 46.2% of Folsom's median gross monthly income ($10,667/mo). At 46.2%, median-income buyers in Folsom are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $750,000 |
| Down Payment (20%) | $150,000 |
| Loan Amount | $600,000 |
| Monthly PI Payment | $3,932 |
| Monthly Property Tax | $688 |
| Monthly Insurance Est. | $313 |
| Total Monthly PITI | $4,932 |
| Housing Cost % of Income | 46.2% |
| Required Income (28% rule) | $211,352/yr |
| Max Affordable Home | $378,985 |
$26,250
$6,255/mo
Folsom Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $750,000 | Folsom city median |
| Down Payment (20%) | $150,000 | Conventional loan |
| Monthly PITI | $4,932 | 6.85% rate, 30yr fixed |
| Required Income (28% rule) | $211,352 | Annual gross |
| Max Affordable Home | $378,985 | Based on median income |
| FHA Down (3.5%) | $26,250 | Minimum FHA |
| Housing Cost % of Income | 46.2% | Median income: $128,000/yr |
| Property Tax Rate | 1.1% | $8,250/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Folsom is $750,000, with a local 30-year mortgage rate of 6.85%. A buyer putting 20% down carries a loan of $600,000, generating a monthly P&I payment of $3,932. Adding property taxes ($688/mo) and homeowners insurance ($313/mo) brings total monthly PITI to $4,932.
Folsom's property tax rate of 1.1% is near the national average, adding a standard increment to monthly housing costs. On the Folsom median home, that is $688/month, or $8,250 per year.
California levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Folsom 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 Folsom's median income of $128,000/year can afford up to $2,987/month in total housing costs. Based on Folsom's mortgage rate of 6.85% and property tax rate of 1.1%, that translates to a maximum affordable home price of approximately $378,985 with 20% down on a 30-year loan.
To afford the median Folsom home priced at $750,000, you need an annual gross income of approximately $211,352. Total monthly housing costs (principal and interest of $3,932, property taxes of $688, and insurance of $313) come to $4,932/month, which equals 28% of the required income.
At the median home price of $750,000 and median household income of $128,000, the total monthly housing cost of $4,932 represents 46.2% of gross monthly income. This is well above the standard 28% threshold, making Folsom a challenging market for buyers at median income.
A conventional 20% down payment on the median Folsom home of $750,000 is $150,000. An FHA loan requires just 3.5% down — $26,250 — but adds mortgage insurance of roughly $513/month, bringing total FHA payments to $6,255/month.
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