| Metric | Boston, MA | Raleigh, NC |
|---|---|---|
| Median Home Price | $820,000 | $430,000 |
| 20% Down Payment | $164,000 | $86,000 |
| Loan Amount | $656,000 | $344,000 |
| P&I (6.7%, 30yr) | $4,233/mo | $2,219/mo |
| Property Tax | 1.14%/yr | 0.81%/yr |
| Total PITI Est. | $5,352/mo | $2,688/mo |
| Income Needed (36% DTI) | $178,400/yr | $89,600/yr |
| 10-Year Total Cost | $642,240 | $322,560 |
Choosing Raleigh, NC over the alternative saves $2,664/month — or $31,968/year in housing costs. Over 10 years, that's $319,680 in your pocket instead of your mortgage.
But monthly payment isn't everything. Consider: job market, salary levels, appreciation potential, cost of living beyond housing, and lifestyle fit. A cheaper mortgage in a lower-income city may not actually save money if your salary drops too.
Ask Zai with your income and down payment — get a personalized city recommendation.
🏦 Ask Zai Free → 🔔 Set Affordability Alert 🎲 Geographic LotteryNot financial advice. Data estimated from public sources. Rates at 6.7%, 20% down, 30-year fixed. Actual costs vary.
🔍 Also explore: All FRC Research Tools · Zai — File Analysis · FHA State Map · Lender Stress Index
Prices and rates are widely reported. Whether a lender says yes is not. In the complete 2025 federal record, denial rates across the 100 largest FHA lenders ran from 1.8% to 78.7% — same programme, same year.
And it is not simply who applies where: standardizing on state, loan amount, income, debt-to-income and loan-to-value, applicant mix explains only a 2.7× range in expected outcomes.
CFPB HMDA 2025, computed by FinanceRateCalc. Covers the highest-volume lenders published per market, not all lenders. Historical observations, not predictions. CC BY 4.0, not independently reproduced.