Housing and relocation calculator | Semiconductor Cities

TownGross salary offered ($ a year)Home price ($)Starts at the middle of the range in our guideDown payment (%)Mortgage rate (%)Our assumption. Use your lender’s quoteProperty tax (% of price a year)Filled where we found a figure. Otherwise enter yoursHome insurance ($ a month)Not researched. Enter a quoteMonthly rent ($)Starts at the middle of our range where we have oneRelocation lump sum ($)Your tax rate on that lump sum (%)Employer-paid relocation is generally taxable wages. Use your marginal rate

$2,238Own: monthly mortgage, tax and insurance

22%of gross monthly pay

$1,610Rent per month

16%of gross monthly pay

Share of gross monthly pay

Own

22%

Rent

16%

The line marks 30%, a common rule of thumb and not a rule.

Loan of $255,200 over 30 years: principal and interest $1,613 a month, property tax $625 a month. A common rule of thumb keeps housing under about 30% of gross pay, which is a guideline, not a law.

A $10,000 lump sum is about $7,600 after tax at 24%. Ask whether the employer will gross it up.

What this leaves out. State and city income tax, utilities, commuting, childcare and the price of your current home. It is arithmetic on the numbers you enter, not advice. The default rate and every field you can edit are assumptions, not sourced facts. Prices and tax rates come from this site’s guides and carry their own dates.