# What salary do you need to buy a house in South Africa? October 2026 salary-to-bond table - Canonical URL: https://bond.co.za/news/what-salary-do-you-need-to-buy-a-house-october-2026 - Author: Neil B - Published: 2026-10-23 - Last updated: 2026-10-23 Market newsFirst-time buyer At 10.75% prime over 20 years, a gross income of **R 30 000 a month** supports a home loan of about **R 886 500** under the banks' 30% rule — bond.co.za's October 2026 calculation. September's hike cut that buying power by roughly **R 14 961**. The full salary-to-bond table is below. By [Neil B](https://bond.co.za/expert) · Checked against published primary sources · Published 2026-10-23 · Last verified 2026-10-23 affordabilitysalaryfirst-time-buyerprime-ratenca ![Illustration of a salary ladder of stacked banknotes rising towards a house, with badges for the 10.75% prime rate and the 30% affordability rule, on a cream background](https://bond.co.za/images/news/what-salary-do-you-need-to-buy-a-house-october-2026.svg) ## Key takeaways - 01At **10.75% prime** over 20 years, a gross income of **R 30 000 a month** supports a bond of about **R 886 500** under the banks' 30% rule — bond.co.za's calculation for October 2026, not a quote. - 02September's 25bp hike (effective 25 September 2026) cut that buying power by about **R 14 961** on a R 30 000 income, compared with the previous 10.50% prime. - 03Banks price home loans between roughly prime minus 1.0% and prime plus 2.0%. The average concession across originator-submitted bonds was **0.67% below prime** (ooba Home Loans, as at 3 October 2026). - 04Salary is one check among several: banks also assess your credit record, monthly expenses and the property's value. The next MPC decision is **19 November 2026**. ## What salary do you need to buy a house in South Africa? There is no single minimum salary — banks size your bond off the repayment your income can carry. The standard guideline keeps the monthly instalment at or below **30% of gross income**. At 10.75% prime (effective 25 September 2026) over a 20-year term, that works out to: - Earn R 20 000 a month → a bond of about **R 591 000** - Earn R 30 000 a month → a bond of about **R 886 500** - Earn R 50 000 a month → a bond of about **R 1 477 499** - Earn R 75 000 a month → a bond of about **R 2 216 249** - Earn R 100 000 a month → a bond of about **R 2 954 998** Maximum bond at 10.75% prime, 20-year term, instalment capped at 30% of gross income. Computed by bond.co.za — an estimate, not a quote. | Gross monthly income | Max instalment (30%) | Estimated max bond | | --- | --- | --- | | R 20 000 | R 6 000 | ≈R 591 000 | | R 30 000 | R 9 000 | ≈R 886 500 | | R 50 000 | R 15 000 | ≈R 1 477 499 | | R 75 000 | R 22 500 | ≈R 2 216 249 | | R 100 000 | R 30 000 | ≈R 2 954 998 | These are ceilings, not targets: most buyers qualify for less once the bank prices their rate and checks their expenses. For the full income-to-bond breakdown, including joint incomes and existing-debt scenarios, see our [minimum salary for a home loan guide](https://bond.co.za/guides/minimum-salary-home-loan). ## How did September's rate hike change what you can borrow? The SARB raised the repo rate to **7.25%** on 23 September 2026, taking prime from 10.50% to **10.75%** with effect from 25 September 2026. Because affordability is calculated off the instalment, a higher prime shrinks the bond the same salary can carry — the 30% instalment buys less house: Maximum bond before and after the September 2026 hike (10.50% → 10.75% prime), 20-year term, 30% rule. Computed by bond.co.za. | Gross monthly income | At 10.50% (before) | At 10.75% (now) | Buying power change | | --- | --- | --- | --- | | R 20 000 | ≈R 600 974 | ≈R 591 000 | \-R 9 974 | | R 30 000 | ≈R 901 460 | ≈R 886 500 | \-R 14 961 | | R 50 000 | ≈R 1 502 434 | ≈R 1 477 499 | \-R 24 935 | | R 75 000 | ≈R 2 253 651 | ≈R 2 216 249 | \-R 37 402 | | R 100 000 | ≈R 3 004 868 | ≈R 2 954 998 | \-R 49 870 | The next MPC decision falls on **19 November 2026**. If the committee holds, buying power stays where this table puts it; another 25bp hike would compress it further. ## What salary do you need for a R1 million house? With a 10% deposit you finance **R 900 000**, which costs about **R 9 137 a month** at 10.75% prime over 20 years — a gross income of roughly **R 30 457** under the 30% rule. With a 100% bond you finance the full R1 million: about **R 10 152 a month** and roughly **R 33 841** of income. And remember that transfer duty, bond registration costs and moving costs sit on top of the purchase price — they are not financed by the bond. ## Does a deposit reduce the salary you need? Yes — a deposit shrinks the loan _and_ usually earns a better rate. Home-loan offers across the major banks typically land between prime minus 1.0% and prime plus 2.0%, depending on credit profile, deposit and loan-to-value. The average concession across originator-submitted bonds was **0.67% below prime** per ooba Home Loans (as at 3 October 2026). On a R 900 000 bond, a rate that much lower trims the instalment by roughly **R 404 a month**, which lowers the income needed to qualify. ## What else do banks check besides your salary? Salary is the first filter, not the decision. Under the National Credit Act, banks run a full affordability assessment: your credit record and score, existing debt repayments, monthly living expenses and net disposable income — a high salary with high debt can qualify for less than the 30% table suggests. They also value the property itself, because the loan is secured against it. The rate you are offered sits anywhere in the prime minus 1.0% to prime plus 2.0% band, which moves the instalment and therefore the income required. None of these figures constitute pre-approval or a guaranteed rate. ## How do you check what you qualify for? Run your own numbers with the [home loan affordability calculator](https://bond.co.za/home-loan-affordability-calculator) and the [bond repayment calculator](https://bond.co.za/bond-calculator) — enter your income and the calculator applies the same 30% affordability rule at today's prime. When you are ready to buy, [get pre-approved](https://bond.co.za/home-loans/pre-approval): pre-approval certificates are typically valid for 90 days, which covers the 19 November 2026 decision. A bond originator submits your application to multiple banks at once, which is how the average 0.67% below-prime concession is achieved. Answer the two questions below for a personalised estimate. (Published 23 October 2026. Prime and repo verified against the SARB September 2026 MPC statement. Rate concession per ooba Home Loans, checked 3 October 2026. Bond-size examples: 20-year term at prime with no margin, instalment capped at 30% of gross income — your actual rate and approval may differ.) ## Frequently asked questions ### What salary do you need to buy a house in South Africa in 2026? There is no fixed minimum — it depends on the price of the house. Under the standard 30% affordability guideline, at 10.75% prime over 20 years: about R 6 000 of a R 20 000 salary supports a bond of roughly R 591 000; R 30 000 supports about R 886 500; and R 100 000 supports about R 2 954 998. bond.co.za's calculation — your actual approval depends on your credit profile and expenses. ### Can I buy a house if I earn R25,000 a month? Possibly, within limits. At 10.75% prime over 20 years, a R 25 000 gross income caps your instalment at about R 7 500 under the 30% rule, which supports a bond of roughly R 738 750. That points to homes priced around that level or below, depending on your deposit. Banks will also weigh your credit record, existing debts and monthly expenses before approving. ### What percentage of my salary can go towards a home loan? South African banks generally apply the National Credit Act affordability assessment so that your monthly bond instalment stays at or below about 30% of your gross monthly income. It is a guideline rather than a legal cap — a strong credit profile and low expenses can support more, and high existing debt can reduce what is left. The 30% rule is the industry's standard first filter. ### Does a deposit reduce the salary you need to buy a house? Yes, twice over. A deposit shrinks the bond you need to borrow, and it usually earns a better interest rate. For a R1 million house: with a 10% deposit you finance R900,000, costing about R 9 137 a month at 10.75% prime — needing roughly R 30 457 gross income. With no deposit you finance the full R1 million, about R 10 152 a month and roughly R 33 841 of income. ### How much do you need to earn for a R1 million house? With a 10% deposit, about R 30 457 gross monthly income at 10.75% prime over 20 years; with a 100% bond, about R 33 841. At the average originator-submitted rate of 0.67% below prime, the required income drops — comparing offers from multiple banks materially moves the number, per ooba Home Loans data (as at 3 October 2026). ### Get your free Bond Readiness Report A personalised affordability range, a realistic rate band, estimated total upfront costs and the document checklist for your situation. We’ll open a request in your email client, ready to send. Free to use. bond.co.za is an independent educational resource — we do not provide credit, origination, legal or conveyancing services. [About our independence](https://bond.co.za/how-we-make-money). ## Sources - [SARB — Statement of the Monetary Policy Committee, September 2026](https://www.resbank.co.za/en/home/publications/publication-detail-pages/statements/monetary-policy-statements/2026/september)Primary source for prime (10.75%) and repo (7.25%), effective 25 September 2026, after the unanimous 25bp hike on 23 September 2026. - [ooba Home Loans — rate concession reporting](https://www.ooba.co.za/resources/how-to-apply-for-home-loan/)Average rate concession of 0.67% below prime across originator-submitted bonds, as at 3 October 2026. Also the cross-check for the illustrative prime-minus-1.0% to prime-plus-2.0% bank pricing band. - [National Credit Regulator (NCR) — affordability assessment rules](https://www.ncr.org.za/)The National Credit Act requires banks to assess disposable income before granting credit. The 30%-of-gross-income instalment guideline is the standard industry rule of thumb built on that assessment — a benchmark, not a statutory cap. Bond-size and salary figures computed at page render from the standard annuity formula (20-year term at prime, no margin, instalment capped at 30% of gross income), using rates from our central dataset — never hard-coded into the page. ## More market news [ Home loan affordability after the September 2026 rate hikeWhat the hike did to the bond sizes buyers can qualify for. ](https://bond.co.za/news/home-loan-affordability-after-september-2026-rate-hike)[ Home loan rates: what banks actually chargeThe gap between the prime rate and the rate on your offer letter. ](https://bond.co.za/news/home-loan-rates-what-banks-actually-charge)[ SARB hikes prime to 10.75%: the bond impact in numbersWhat the September decision added at each bond size. ](https://bond.co.za/news/sarb-rate-hike-prime-10-75-bond-impact)[ Fewer home loans, bigger bonds: TransUnion Q2 2026Who is still getting approved, and at what bond size. ](https://bond.co.za/news/fewer-home-loans-bigger-bonds-transunion-2026)[ Will interest rates go down in South Africa?The case for cuts — examined against the 2026 hiking record. ](https://bond.co.za/news/will-interest-rates-go-down-in-south-africa) ## Informational disclaimer This article is for information purposes only and does not constitute financial advice, pre-approval or a guaranteed rate. The salary and bond-size tables are bond.co.za's estimates using the standard 30%-of-gross-income affordability guideline, a 20-year term and the prime rate with no margin — your actual rate may be prime plus or minus a margin, and your actual approval depends on the bank's full affordability and credit assessment under the National Credit Act. Rate figures are drawn from the SARB September 2026 MPC statement and ooba Home Loans reporting, as listed in Sources. Always confirm current rates with the South African Reserve Bank, your lender or a qualified financial adviser before making a financial decision. Prime 10.75%, repo 7.25%, effective 25 September 2026 (SARB September 2026 MPC statement). Rate concession 0.67% per ooba Home Loans (checked 3 October 2026). Next MPC decision: 19 November 2026. 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