Affordability is limited by lending requirements.

Start with home price of $250k for example. If you can manage a 5% down payment (arguable) then the loan is for $237.5k.

With a 30 year loan at 3.5%, the principal and interest is $1,066.48 per month. Gross this up by 0.7 for taxes and insurance to get $1,523.54/month.

Lenders will typically allow your payment to be as much as 28.0% of your gross income. This get us to income of $5,441.23/month or $65,294.76/year.

The multiple now if $65.3k income to $250.0k of house or roughly 3.83X.