$86,818/yr
is the income needed to buy the typical $277,302 home in Ames, IA at today's 7.18% rate — about $2,026/mo. The local median household ($71,090) falls $15,728 short.
The math (shown)
277,302 price − 10% down (27,730) = 249,572 loan
30-yr fixed at 7.18% on 249,572 = 1,691/mo principal+interest
+ 335/mo est. taxes+insurance (1.45%/yr of value — national placeholder)
2,026/mo PITI ÷ 0.28 = 7,235/mo → 86,818/yr required
against Zillow ZHVI 2026-09 (Zillow ZHVI (typical home value, smoothed, all-homes 33–67pct tier)) and the 7.18% FRED 30-yr rate (2026-11-05). Local median income: $71,090 (U.S. Census Bureau ACS 2023 5-year, median household income (table B19013)).
Can I afford Ames, IA on my salary?
Your salary:
Rent vs own here
Honest null: HUD FMR needs a free huduser.gov token (env.HUD_TOKEN). Honest-null until set. (HUD FMR needs a free token; not wired here.)
FAQ
How much do I need to make to live in Ames, IA?
To buy the typical home, about $86,818/yr. Renting needs less; this page sizes the buy.
What home value is this based on?
Zillow's ZHVI typical-home-value for the Ames, IA metro (2026-09): $277,302.
Is the mortgage rate current?
Yes — 7.18% from FRED's weekly 30-year fixed average (2026-11-05).
Glossary
ZHVI
Zillow Home Value Index — the typical home value for a region (35th–65th percentile, smoothed, seasonally adjusted).
Front-end DTI
Housing payment as a share of gross income; lenders commonly cap it near 28%.
PITI
Principal, Interest, Taxes, and Insurance — the full monthly housing cost.