In your case this means you should be able to buy a house in the $315,000 range.
The normal back of a match book calculation to run in order to understand how much house you can afford is to multiply that annual salary by a factor of 3.5.
Assuming you pay a 10% down payment this means you need to leverage about $283,500 when you take out your mortgage.
Assuming you get a fixed rate mortage of interest rate 4.5% and amortize over 25 years your monthly mortgage costs will be $1,569.10.
Don`t forget you will also have utlilities,
property taxes and insurance to pay so it`s safe to assume your monthly bills will top $2,000.
Your salary works out to about $5500 a month.
If you are taxed at 30% this leaves you $4583 a month in after tax income.
This means you will be paying about 38% of your after tax income each month to service your housing costs.
I hope so this answer will help you a lot.