My home studio is a simple, but powerful setup that any aspiring Voice Over artist can put together for around $1000. I am assuming that you already have a home computer with some level of multi-core processor. It does not have to be a super computer, but that dusty 10 year old PC wont cut it!
Pro Tools 10
Studio Projects C1 Mic
M-Audio BX5a Studio Monitors
BeyerDynamic DT 770 Pro studio headphones