How Much do I need to Make to afford a Million Dollar home?

How Much Income Do You Need to Afford a $1 Million Home?

Buying a $1 million home is achievable with the right financial plan.

• Estimated income: ~$200,000–$250,000+ annually
• Monthly payment: ~$5,500–$7,000+ (varies by rate, taxes, insurance)
• Down payment: Typically 10%–20% ($100K–$200K)
• Guideline: Keep housing costs at or below 30% of income

Lenders may approve more, but smart buyers focus on comfort—not maximum approval.

Bottom line: A $1M home should support your lifestyle, not stretch it.

Michelle Shiver, Broker Associate
Keller Williams On the Water
📞 352-895-5779
🌐 michelleshiver.com