What income do you need to buy a million dollar home?
To comfortably afford a $1M home using 28/36 ratios: with 20% down ($200K) at 6.5%, the P&I is $5,057/month. Adding tax (~1.1%) and insurance, total housing is roughly $6,300/month — requires ~$270K salary. With 10% down + PMI, salary needed climbs to ~$320K.
More context
To comfortably afford a $1M home using 28/36 ratios: with 20% down ($200K) at 6.5%, the P&I is $5,057/month. Adding tax (~1.1%) and insurance, total housing is roughly $6,300/month — requires ~$270K salary. With 10% down + PMI, salary needed climbs to ~$320K. The exact answer depends on your specific situation — the numbers above are a strong starting point, but the right next step is to plug in your actual figures.
For a deeper analysis, use one of the related tools below — they take your specific income, debt, location, and goals as inputs and produce a tailored answer.