Cost of Living in Harbor Point: What Salary Do You Need to Buy a Home?
Real numbers from this area's median sale price, property taxes, and household income — calculated at today's mortgage rate.
To buy a median-priced Harbor Point home (around $523,750) at today's 7.40% 30-year fixed rate with 20% down, you'd need roughly $100k/year in household income to qualify — an estimated monthly payment of $3,739 (principal, interest, property tax est., and insurance).
Mortgage (principal and interest) $2,901 · Property tax (est.) $655 · Insurance (est.) $183 = $3,739/mo
Assumes 20% down; excludes PMI and HOA fees.
| Down payment | Monthly: mortgage, tax, insurance | Income needed |
|---|---|---|
| 20% | $3,739/mo | $99,709 |
| 10% (+PMI) | $4,298/mo | $114,616 |
| 5% (+PMI) | $4,490/mo | $119,742 |
Estimates use a 7.40% 30-year fixed rate (current Freddie Mac average), an aggressive ~45% housing-to-income ratio (roughly what FHA underwriting can allow for a buyer with no other monthly debts — your number depends on your debts and credit), this area's median sale price, plus estimated insurance and PMI below 20% down. Not a commitment to lend, and not an APR — your actual rate and payment will vary.
Rent vs. buy in Harbor Point
Census tract estimateRenting costs about $1,714/mo less than owning the median Harbor Point home — a typical rent of about $2,025/mo, against roughly $3,739/mo to own with 20% down.
| Monthly cost | Estimate |
|---|---|
| Rent, typical | $2,025/moroughly $1,800 – $2,275 |
| Own, 20% downMortgage, property tax and insurance; no PMI or HOA | $3,739/mo |
By bedroom — raw Census medians for current renters, not adjusted to today’s asking rents:
Estimate (2023 ACS 5-year data), based on Census tract data, widened until there were enough renting households to measure, so it describes a larger area than Harbor Point alone. Adjusted toward what is being asked today using HUD Fair Market Rents, because the Census figure counts every household already renting — including long-tenured ones paying below current market. Rent figures are rounded to the nearest $25 — the underlying estimates are not precise enough to read closer than that. The ownership figure is the monthly payment only: it excludes maintenance and closing costs, and it doesn't count the equity a payment builds. Renting has no down payment. Both are estimates, not quotes.
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