Question: how much money do you need to make to afford a 1 million dollar house?
Answer: Total debt service ratio: That means you'll need an income of at least $175,230 to afford your mortgage and your other debt obligations ($70,092 ÷ $175,230 = 40%). To satisfy both debt service ratios, you'll need an annual income of at least $175,230 to afford a home worth $1 million.