Here's the salary you need to afford a $1 million home

Depending on where you’re shopping for a home, $1 million could get you a spacious mansion or just your typical, single-family house. For example, in the Los Angeles area, the typical home costs nearly $1.15 million. In Chicago, however, it’s under $400,000 — meaning $1 million could go pretty far in terms of amenities and square footage. Regardless, the price tag is the same — and so is the cost of taking out a mortgage. Exactly how much money would you need to make to afford that $1 million house? The ...