DH's income is obviously a major factor, but there are quite a few other factors to take into consideration as well, such as debt, savings, etc.
We were really careful over the last few years about not taking on any debt (except our mortgage), and we saved as much as possible so we have something to fall back on if DH were to lose his job. As much as I would love a new mom car, we haven't had a car payment in over a year, and would like to keep it that way for a while, which means no new cars for us! (We still have my car from college, although we hardly drive it since dh takes the metro and I use the other car).
Good luck! It's totally worth it.
I voted even though I don't SAH - my DH is a student so my income is the only one. Even without tuition, I don't think we could be ok with less than $90k but we also rent a house in Arlington which will run you much more than an apartment in Springfield (for example).
If you're really only staying home for a year, I wouldn't be so worried about saving a lot (of course, retirement contributions are separate from this calculation for me) especially if you have a chunk in the bank to fall back on if you really had to.
My DH is self-employed but hasn't had much work due to the economy so we are planning for him to stay home with the baby (while trying to get contracts) and I will continue to work full-time. I agree with PP - your income needs depend on your debt, your expenses, and your general lifestyle.
We have started to get tighter with our budget and I absolutely love this woman's website. She's a mother of 2 (with one on the way) and she explains amazing ways to save money. She feeds a family of four on $40/week. I can't quite get to that but she has plenty of great tips and information about how to use coupons and cook ahead to save money. There are so many intelligent moms out there who figure out ways to make it work.
The other budgetting website that I just found is www.mint.com. It is AMAZING at helping you track your expenses with no data entry (it just links to your existing accounts). Click on "About" and then view the video by the CEO to see how it works. I signed up and it allows me to track all of our accounts and expenditures very easily. It has helped me find areas where we can reduce our spending (such as our huge grocery bill).
Well, hope you are able to figure out what will work for your family.
also, think about whether or not you'd like to return to work in a few years, depending on what industry you are in, returning might be difficult if your industry changes all the time and being gone 1-2 yrs would mean a lot of re-training and learning new technologies/etc
GL with your decision, make it based on what's best for you and your family, regardless of what others tell you!
We tried to figure out how to make it work for a year, which we ultimately couldn't do. Do you have a written budget? Remove your income and look to see if you can still pay all of your bills, afford any entertainment (eating out, cable, etc), and not go broke.
We also looked at what I'd lose out on in terms of 401k and bonuses, earning power, the ability to return to a position of the same stature, how much education it would take for me to return to work (since I work in IT, my skills would be out-of-date for the year I took off).
Good luck with your decision. I would have loved to take a year off to be at home with DS!