How much can I afford to buy in Manhattan or the Hamptons?

Enter your income, debts and cash. You'll see the price that keeps your monthly costs within common lender guidance at your chosen down payment, with enough cash for every New York closing cost, and how much further spare cash in the down payment could take you. Co-op boards' usual tests are included.

Available now, no account needed

Household income, a year, before taxMonthly debt paymentsCar, student and personal loans, minimum card payments. Not rent.Cash available to buySavings you can use for the down payment, closing costs and anything a co-op wants left over

Down payment

From 10%, or 20% for a co-op.

Mortgage rate

Mortgage term

WhereManhattanThe Hamptons

TypeCo-opCondoHouse

Building costs and property tax, a monthCo-op: the maintenance. Condo: common charges plus tax. House: tax. Leave blank and we'll estimate it from the price.

Change the lender and board tests

Housing costs, % of income

All debts, % of income

Co-op board debt-to-income

Co-op: months left in the bank

Example figures. We've filled in a household earning $400,000 with $500,000 saved. Enter your own to see your price.

You could afford up to, at 20% down$1,132,000The co-op board's debt-to-income test limits the price, not the lender's.

Putting spare cash into the down payment$1,189,000With $297,482 down (25%) and a $891,518 loan, still within your income tests. The co-op board's cash-in-the-bank test caps how much you can put down: it leaves the $175,940 that test wants after closing.

The figures below are at the 20% down payment.

Monthly costs at this price$7,371Housing 22.1% and all debts 25.1% of your gross income of $33,333 a month.

Cash needed at closing$252,434$247,566 of your cash left after closing.

The tests, and which one sets the price

Housing costs within 28% of gross incomePasses22.1% at this price. On its own it allows up to $1,433,000.
All debt payments within 36% of gross incomePasses25.1% at this price. On its own it allows up to $1,689,000.
Cash covers the down payment and closing costsPasses$252,434 needed of $500,000. On its own it allows up to $2,272,000.
Co-op board: all debts, the new loan and maintenance within 25% of gross incomeSets the price25.0% at this price. On its own it allows up to $1,132,000.
Co-op board: 24 months of mortgage and maintenance left in the bankPasses33.8 months left at this price. On its own it allows up to $1,326,000.

Each month at this price

Mortgage, principal and interest ($905,600 over 30 years at 6.35%)$5,635
Co-op maintenance (includes the building's property tax), our estimate$1,698
Homeowner's insurance, our estimate$38
Your other debt payments$1,000
Total, a month$8,371

We estimated the maintenance from the price (1.8% of it a year). Buildings vary a lot: use the listing's figure when you have one.

Cash at this price

Down payment (20%)$226,400
Mansion tax (1% or more from $1 million)$11,320
Other closing costs$14,714
Cash needed at closing$252,434

The board test here wants $175,991 still in the bank after closing (24 months of $7,333 mortgage and maintenance).

Where the tests come from

Housing costs at 28% and all debts at 36% of gross income are the 28/36 rule lenders publish as guidance; housing costs means principal, interest, taxes and insurance. Chase: the 28/36 rule · edited 25 Sep 2026, checked 21 Oct 2026
36% is also Fannie Mae's cap on total debt for manually underwritten loans, which can go to 45% with strong credit and reserves; loans assessed by its Desktop Underwriter can go to 50%. Jumbo lenders set their own limits. Fannie Mae Selling Guide B3-6-02, debt-to-income ratios · section dated 2 Apr 2025, checked 21 Oct 2026
Lenders differ. The CFPB says different loan products and lenders have different limits. CFPB: what is a debt-to-income ratio? · reviewed 28 Aug 2023, checked 21 Oct 2026
Co-op boards: commonly cited; every board sets its own. Brokers quoted by Brick Underground put a typical board's debt-to-income at 25% (all monthly debts, the new loan and maintenance, over gross income), up to 33% in easier buildings and under 20% in the strictest. Brick Underground: what debt-to-income ratio do you need to buy a co-op? · 20 Mar 2023, checked 21 Oct 2026
Co-op post-closing liquidity: commonly cited; every board sets its own. Most often two years of mortgage and maintenance left in the bank, with 12 to 24 months the usual range and some boards asking for up to three years. Brick Underground: how much cash do I need to buy a NYC apartment? · 15 Sep 2015, checked 21 Oct 2026 Brick Underground: cash but a low salary, will a co-op board reject me? · 25 Apr 2016, checked 21 Oct 2026
Down payments under 20%. The CFPB says a conventional loan with less than 20% down may need private mortgage insurance; this tool doesn't add it, and doesn't go below 10%. CFPB: what is private mortgage insurance? · reviewed 28 Aug 2023, checked 21 Oct 2026
Co-ops start at 20% down. NCB, a large co-op lender, told Habitat it requires 20% down on primary-residence share loans and that the co-op may require more; some boards ask for 50%. Habitat: banks are demanding bigger down payments (NCB's 20% co-op minimum) · 16 Nov 2020, checked 21 Oct 2026

Estimates, not a pre-approval, a loan offer or financial advice. A lender decides what you can borrow and a co-op board decides whether to approve you; both look at more than these ratios (credit, assets, job history). Closing costs come from the same model as cash to buy, with tax rates checked there; the tests above were checked 2026-10-21. The mortgage rate is an example, not a quote.