To be able to afford a $2 million house, you'll need to earn over $450,000 a year. You'll also need to have enough money to cover the down payment and closing costs for the home.
While spending $2 million for a home may sound astronomical for some people, it’s close to the median sales price in areas like New York, San Jose, or San Francisco. Even if you don’t live in one of these areas, perhaps you’re doing well for yourself and want to finally purchase your dream home. Here is a look at what kind of salary, down payment, and monthly mortgage payment is needed to afford a $2 million home.
