A meaningful threshold: $413,000 is 92% of the Bronx median price. You now have access to the majority of the Bronx market and the bottom tier of Queens. This is the salary level where serious NYC homebuying becomes feasible for most households.
How the $413K Number Is Calculated
Gross monthly income at $100,000: $8,333. The 28% ceiling is $2,333/month. After property taxes (~$485/mo) and insurance (~$110/mo), you have $1,738/month for principal and interest — enough for a $330,000 loan at 6.875% over 30 years.
| Component | Monthly | Notes |
|---|---|---|
| Gross monthly income | $8,333 | $100,000 ÷ 12 |
| 28% max PITI | $2,333 | Rule ceiling |
| Property tax (est.) | $485 | ~1.41% annual on $413K |
| Insurance (est.) | $110 | Condo/co-op typical |
| P&I budget | $1,738 | Remaining for mortgage |
| Max loan at 6.875% | — | ~$330,000 |
| 20% down payment | — | ~$82,600 |
| Max purchase price | — | ~$413,000 |
What $413,000 Buys by Borough
| Borough | 2026 Median | $413K Options |
|---|---|---|
| Manhattan | $1,200,000 | Not possible on open market |
| Brooklyn | $800,000 | Deep outer Brooklyn — very rare |
| Queens | $650,000 | Lower end — SE Queens co-ops and some condos |
| Staten Island | $550,000 | Below median — condos and attached homes possible |
| Bronx | $450,000 | Just below median — wide selection of 1–2BR units |
Bronx: Your Strongest Market at $413K
Northern Bronx — Best Condo Selection
Wakefield, Woodlawn, Co-op City area, Baychester: 1BR condos $330,000–$420,000. Buildings tend to be 1970s–90s era, elevator service, doorman in some cases. Common charges $500–$750/month. Close to 2/5 express trains and Metro-North.
Riverdale — Surprising Co-op Value
Riverdale and Spuyten Duyvil have a large co-op stock, some of which falls under $413K for 1BR and junior 2BR units. These neighborhoods have a suburban feel, excellent schools, and Metro-North access (25 min to Grand Central). Co-op maintenance $900–$1,400/month but often includes utilities.
Fordham / University Heights — Value Play
Market-rate co-ops and some condos in the $300,000–$400,000 range. Improving neighborhoods with D and B train access. Monthly costs lower than Riverdale but neighborhood quality varies by block.
Queens at $413K
Southeast Queens (Jamaica, Hollis, Queens Village)
Co-ops and small condos $300,000–$420,000. A train and LIRR access. These are primarily 1BR and 2BR units in older elevator buildings. Strong community character, diverse neighborhoods, and better square footage per dollar than any comparable NYC market.
Flushing Edges (Whitestone, College Point)
Occasional co-ops and attached homes in the $380,000–$415,000 range. Less subway-accessible but solid commuter rail options. College Point has newer construction condos at the low-$400s.
Best value at $413K: A 2BR co-op in southeast Queens (Jamaica, Hollis, or Queens Village) for $350,000–$400,000. More space than Bronx options, reasonable maintenance ($650–$850/mo), and good transit access via the A train or LIRR.
Monthly Cost Scenarios
| Scenario | Price | Down 20% | P&I/mo | Tax+Ins/Maint | Total/mo |
|---|---|---|---|---|---|
| Bronx 1BR condo | $395,000 | $79,000 | $1,665 | $1,050 | ~$2,715 |
| Bronx Riverdale co-op | $380,000 | $76,000 | $1,602 | $1,100 maint | ~$2,702 |
| Queens SE 2BR co-op | $370,000 | $74,000 | $1,560 | $750 maint | ~$2,310 |
| Staten Island condo | $400,000 | $80,000 | $1,687 | $1,000 | ~$2,687 |
Calculate Your NYC Take-Home on $100K
NYC taxes bring your $100K salary down meaningfully. See your exact biweekly take-home before you budget.
Use the NYC Paycheck CalculatorFrequently Asked Questions
Can I buy in the Bronx on a $100,000 salary?
Yes — $100,000 gives you a $413,000 budget, just below the Bronx median of $450,000. You can find 1BR condos, market-rate co-ops, and some 2BR co-ops in neighborhoods like Wakefield, Fordham, University Heights, Kingsbridge, and Riverdale. This is a genuinely workable budget for Bronx homeownership.
What is the monthly payment on a $413,000 home with 20% down?
With 20% down ($82,600), your loan is $330,400. At 6.875% for 30 years, monthly P&I is approximately $2,170. Add property tax (~$480/mo) and insurance (~$110/mo) for a total PITI of about $2,760/month. Most lenders allow up to 31% DTI for well-qualified borrowers, giving some additional room.
Is $100K enough to buy a condo in NYC?
Yes, in the Bronx and outer Queens. At $413,000 you can find 1BR condos in the northern Bronx and occasionally in southeast Queens. You won't find condos in Brooklyn, Manhattan, or central Queens at this price on the open market. Staten Island also has condo options in this range, particularly near the North Shore.