2 incomes * 6 dollars/hr * 3.22 = 38.64 dollars/hr household
65,000 * 3.22 = 209,300
Putting 20% down to avoid PMI would lead to a payment of $1,192, using this calculator [1].
$1,192 / $4,024 = 29.6%
That comes in just under 30% of net pay. The standard rule of thumb is to be less than 33% of gross pay.
$1,192 / $5,417 = 22%
Personally, I prefer using net pay, since that's what you actually have to spend and it's always good to have more room in the budget.
These numbers don't seem unreasonable, and the median household income in 2020 was $67,521 [2], and nearly half the states have a median home price at this price or lower [3].
Here is median income by state as well [4], those in the middle are also around the $65k area to align with the homes in the middle around the $205k area... so it all kind of lines up if people aren't obsessed with leaving on a coast.
This makes it seem like things haven't changed as much as people keep saying.
[0] https://smartasset.com/taxes/paycheck-calculator#UIjlp8sv2w
[1] https://www.mortgagecalculator.org
[2] https://www.census.gov/library/publications/2021/demo/p60-27...
[3] https://en.wikipedia.org/wiki/List_of_U.S._states_by_median_...
[4] https://en.wikipedia.org/wiki/List_of_U.S._states_and_territ...