Manageable

What Salary Do You Need to Live in Parachute?

To afford a 2-bedroom in Parachute, you need to earn at least $47,440/year based on estimated fair market rent data. The median household income here is $55,089, which means the typical resident is $7,649 above the threshold.

Census ACS Data Pop. 1,555

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$830	$2,767	$33,200	$-21,889
1 Bedroom	$984	$3,280	$39,360	$-15,729
2 Bedroom BENCHMARK	$1,186	$3,953	$47,440	$-7,649
3 Bedroom	$1,447	$4,823	$57,880	+$2,791
4 Bedroom	$1,779	$5,930	$71,160	+$16,071

Affordability Breakdown

Where the required salary line crosses above Parachute's median income — housing becomes unaffordable for the typical resident.

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$55,089

Annual household

2BR Required Salary

$47,440

Under 30% rule

Income Gap

+$7,649

Surplus

Verdict

Manageable

Ratio: 25.8%

The 30% Rule Calculator

Enter your annual salary to see what you can afford in Parachute

Your Annual Salary

Pre-filled with Parachute's median household income

Max monthly rent you can afford$1,377

Studio

$830/mo

1 BR

$984/mo

2 BR

$1,186/mo

3 BR

$1,447/mo

4 BR

$1,779/mo

Your salary is $0 above the median income in Parachute.

Salary Comparison by Bedroom

Bars left of the marker line are affordable for Parachute's median earner. Bars to the right require above-median income.

Affordable Above Median Median Income

What This Means If You're Moving to Parachute

Renting in Parachute, Colorado is doable for median earners, but tight. A 2-bedroom requires roughly $47,440/year under the 30% rule, and with a median income of $55,089, residents are operating close to the threshold.

Downsizing to a 1-bedroom ($984/month) or studio ($830/month) materially improves the math. For those needing more space, a 3-bedroom in Parachute pushes the required income to $57,880.

For comfortable living in Parachute without financial stress, target a household income of at least $71,160 — this accounts for rent being approximately 30% of take-home pay while leaving adequate room for Colorado's cost of living.

Economic Outlook

Local Job Market & Housing Dynamics

Affording rent isn't just about housing prices—it's heavily dependent on local employment opportunities and the strength of the job market in Parachute, Colorado.

With a total population of 1,555, the city supports an active civilian workforce of 680 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $47,440 annual salary. The ratio of employed residents to the total population provides insight into the local economic health and competition for both jobs and housing.

Employed Workforce

680

Active civilian employees in Parachute

Frequently Asked Questions About Renting in Parachute

What salary do I need to live in Parachute, Colorado?

To afford a 2-bedroom in Parachute under the 30% rule, you need an annual salary of at least $47,440. The median household income in Parachute is $55,089.

Can I afford a 2-bedroom in Parachute on $55,089?

The affordability verdict for Parachute is "Manageable". The rent-to-income ratio is 25.8%, meaning median earners have a $7,649 surplus.

What is the average rent in Parachute compared to median income?

The median gross rent in Parachute is $984/month. With a median household income of $55,089, residents spend approximately 25.8% of their income on rent.

What salary do I need for a studio in Parachute?

A studio in Parachute rents for approximately $830/month. Under the 30% rule, you need an annual salary of $33,200 to afford this.

Is Parachute considered an affordable place to live?

Based on the surplus of $7,649 and an affordability verdict of "Manageable", Parachute is considered a manageable rental market when comparing the required 2-bedroom salary of $47,440 to the local median household income.

How Parachute Compares

Other cities in Colorado with salary requirements