How Much House Can You Afford on $70K in St. Louis at 7%?

The Math: $70K Salary → $187K–$241K Home

Lenders start from your gross monthly income — $5,833 on $70,000 — and apply two limits: what your housing payment can be, and what all of your debts together can be. The low end of the range keeps your full payment at 28% of gross income. The high end is what most lenders would approve at a 43% total debt-to-income ratio, assuming about $400 a month in other debts (car, student loans, credit cards).

All figures use the assumptions listed in How these numbers are calculated below.

Your Monthly Payment on a $215K Home

Here is the full payment on a $215,000 home — the middle of your range — with FHA, 3.5% down (the 1.75% upfront FHA premium is financed):

That is 32% of your gross monthly income. It doesn’t include utilities or maintenance — plan on 1–2% of the home’s value per year, or about $179–$358 a month, for upkeep.

The $70K Decision: City or County?

At $70K most buyers still use FHA or a low-down-payment conventional loan, and you're comfortably under MHDC's 2026 income limits ($113,500 for a 1–2 person household under First Place), so down-payment assistance is on the table. The bigger question at this income is where, because two of your best-matched areas sit on opposite sides of the City line.

A $220,000 house in South City (63116 or 63109) and the same price in Florissant don't cost the same to own:

• Property tax: City 1.40% vs. County 1.12% — about $51 a month more in the City on a $220K home.
• Earnings tax: living in the City means the 1% City earnings tax — about $700 a year on $70K. Lenders don't count it; your budget does.
• What you get: South City homes are typically older brick with smaller lots and walkable blocks; North County homes are more often 1950s–1970s ranches with yards and garages.

Neither is wrong. Just compare them on the full monthly cost, not the list price.

Stretching $70K Further: MHDC Assistance Plus a Seller-Paid Buydown

A $70K household is under MHDC First Place’s 2026 St. Louis income limit ($113,500 for 1–2 people; $130,525 for 3+). That means you can often stack two kinds of help: MHDC cash assistance (up to 4% of the first mortgage) goes toward your down payment, and a seller concession you negotiate in the offer pays to buy down your interest rate. Here is what that looks like on a $215,000 home with a 3% seller concession ($6,450):

Which buydown? The 2-1 buydown gives you the bigger break — about $271 a month in year one — while you settle in, but lenders qualify you at the full 7% rate, so it doesn’t raise your budget. The permanent buydown saves less each month (about $107) but lasts for the life of the loan and raises what you can be approved for.

Watch the lender fees. MHDC lets lenders charge an origination fee of up to 1% on these loans, which can make the 4% work out closer to 3%. Ask: “After your fees, how much of the 4% actually reduces my cash to close?”

Making it work: ask for the concession in your offer — FHA allows seller contributions up to 6% of the price, and in a fast market a smaller ask may be more realistic. MHDC requires its written approval for buydowns on First Place loans, so have your MHDC-approved lender confirm the structure (for First Place or Next Step) before you write the offer. MHDC sets its own rate daily and it may be below 7%; these numbers use 7% to stay conservative. Purchase-price limits apply: $566,354 for a single-family home under First Place outside targeted areas, $692,211 under Next Step or in targeted areas. See our MHDC guide for the full rules.

Where $70K Lines Up With Recent St. Louis Sale Prices

These are the highest-volume ZIP codes where the median sale price falls within reach of a $70K budget, based on 7,006 residential sales in 2025–2026 (MARIS MLS; excludes new construction and condos). A median is a midpoint — every area has homes above and below it.

About this data: The prices and market numbers here come from 7,006 MARIS closed sales across 79 St. Louis-area ZIP codes, 2025–2026. They don’t reflect price changes since then. I’m refreshing this data at the end of 2026 and every six months after that.

Florissant West is the area where your comfortable budget meets the median sale price. Florissant North and East, Hazelwood and Overland are close behind, and all are fast — about 5 days on market with half selling the first weekend. South City's 63116 and 63109 sit near your stretch number with the City tax trade-offs above. Bridgeton (Pattonville schools) and St. Ann round out the list, and Normandy lines up with your comfortable number if you want more room in the budget.

School districts follow addresses, not ZIP codes — always verify the district for a specific property. See the St. Louis school district guide.

How Your Debts Change the $70K Number

Every dollar of monthly debt payment is a dollar lenders won’t let you spend on housing. On $70K with FHA, 3.5% down:

An extra $500 a month in payments — a second car, say — costs you about $57,000 in buying power. Paying one off before you apply works the other way.

Cash You’ll Need to Close on $215K

Sellers can contribute toward closing costs, and lenders and assistance programs may offer credits — ask before assuming you need the full amount in cash. Keep an emergency fund after closing.

Example: Two Incomes Adding Up to $70K

Illustrative example, not a client story. A couple earns $40,000 and $30,000. Between them they have a $400 car payment and $10,000 saved.

• Comfortable target: about $187K.
• Lender's likely maximum: about $241K. Adding a second $350 car payment would drop that by roughly $40,000.
• Payment at $215K: about $1,881 a month including taxes, insurance and FHA mortgage insurance.
• Cash to close at $215K: about $13,975 with FHA — more than their $10,000 in savings, so seller-paid closing costs or down-payment assistance would make the difference (and keep an emergency fund intact).

With two incomes, both jobs need to be stable. A lender will want two years of history for each, and the household needs a plan if one income stops for a few months.

Where $70K Buyers Go Wrong

Comparing City and County homes on price alone. Higher property tax plus the earnings tax can make the cheaper-looking City house the more expensive one to own.

Buying the second car before closing. A new $400 payment can cost you $40,000+ in approval and can derail a loan that's already underwritten.

Assuming two incomes means double the safety. If the payment only works with both paychecks, it's a stretch budget.

Paying for cosmetic updates instead of systems. At this price point, a 20-year-old furnace or roof matters more than the countertops.

$70K Affordability Questions

What can I afford making $70,000 a year in St. Louis?

About $187K comfortably and up to roughly $241K with typical debts, using FHA financing at the rate assumed on this page.

Is it cheaper to buy in St. Louis City or County on $70K?

At the same price, County is usually cheaper to own: City property taxes run about 1.40% vs. 1.12% in much of the County, and City residents pay a 1% earnings tax.

How much do I need to save on a $70K salary?

About $13,975 for a $215K home with FHA, including estimated closing costs. Assistance programs or seller credits can reduce that.

Can I combine MHDC assistance with a seller-paid rate buydown?

Often, yes: MHDC cash assistance can cover your down payment while a seller concession pays for a rate buydown. MHDC requires written approval for buydowns on First Place loans, so have your MHDC lender confirm before you make an offer; lender fees can also trim the 4%. On a $215K home with a 3% seller concession, cash to close can drop from about $13,975 to about $4,146.

How These Numbers Are Calculated

• Interest rate: 7% on a 30-year fixed loan, in line with the market as of October 2, 2026. Your rate depends on credit, loan type and the market on the day you lock.
• Property tax: 1.12% of the price for the budget range and payment table (common in St. Louis County); the area table shows each ZIP’s rate.
• Insurance: about 1% of the home’s price per year. Missouri premiums vary widely — get quotes early.
• Mortgage insurance: FHA 0.55% per year plus 1.75% upfront (financed); conventional PMI estimated at 0.60% with 5% down and 0.40% with 10% down.
• Limits: comfortable = total housing payment at 28% of gross income; lender maximum = 43% total debt-to-income, minus the other debts stated.
• Closing costs: estimated at 3% of the price.
• MHDC + buydown scenario: MHDC cash assistance at 4% of the base loan; MHDC rate assumed at the same 7% (conservative); 3% seller concession; 2-1 buydown cost = the payment difference over two years; permanent buydown at roughly 0.25% per discount point (pricing varies daily); optional lender origination fee up to 1% of the loan; 2026 St. Louis MHDC income and purchase-price limits.
• Area data: median sale price, days on market and first-weekend sale rate from 7,006 residential sales, 2025–2026, MARIS MLS.

The Bottom Line on $70K in St. Louis

On $70,000, aim for about $187K and stop at $241K. Your budget fits both North County's busy suburbs and South City's brick neighborhoods — compare them on total monthly cost, including the City's tax differences. Keep your debts where they are until closing, and you'll be competitive in some of the fastest markets in the metro.

Other incomes: $50K · $60K · $80K · $100K · $120K · $150K · $200K · Income needed by price

George Kindler

Marine Corps Veteran • Licensed Missouri Agent • 13 Years • 250+ Transactions

I work with first-time buyers making $50K-$100K every week. I know what you can actually afford, what neighborhoods fit your budget, and how to get you in a house without being house-poor. Let's talk.

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