[quote]Are those ppl living there just making way more or is my budget too conservative?[/quote]

Most people are still buying as much house as they can barely afford. Your income is pretty much inline with 92127 though:

http://www.clrsearch.com/92127_Demographics/Household-Income

Your budget is pretty conservative for CA real estate. I’m not criticizing, as I tend to take the same approach, as do many Piggs. But you’re definitely on the conservative end compared to the average Joe.

[quote](i’ve not updated the tax pct to account for mortgage interest deductible, not sure how much it’ll save.)[/quote]

15-20% of the total payment, depending on other deductions, total income, dependents, etc. So figure a $2500 mortgage = $2000 rental. How close this is depends on how much money you dump into the house in paint, blinds, carpet, tile, countertops, etc over the years.

Regarding 4S Ranch specifically, I think there are better values to be had with low or no Mello-Roos/HOA in Scripps Ranch, Poway, Rancho Penasquitos, and Rancho Bernardo.