Affordable

What Salary Do You Need to Live in Colona?

To afford a 2-bedroom in Colona, you need to earn at least $39,320/year based on estimated fair market rent data. The median household income here is $64,375, which means the typical resident is $25,055 above the threshold.

Census ACS Data Pop. 5,404

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$688	$2,293	$27,520	$-36,855
1 Bedroom	$816	$2,720	$32,640	$-31,735
2 Bedroom BENCHMARK	$983	$3,277	$39,320	$-25,055
3 Bedroom	$1,199	$3,997	$47,960	$-16,415
4 Bedroom	$1,475	$4,917	$59,000	$-5,375

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$64,375

Annual household

2BR Required Salary

$39,320

Under 30% rule

Income Gap

+$25,055

Surplus

Verdict

Affordable

Ratio: 18.3%

The 30% Rule Calculator

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

Your Annual Salary

Pre-filled with Colona's median household income

Max monthly rent you can afford$1,609

Studio

$688/mo

1 BR

$816/mo

2 BR

$983/mo

3 BR

$1,199/mo

4 BR

$1,475/mo

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

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Colona

Colona, Illinois stands out as one of the more financially accessible housing markets in the state. The median household income of $64,375 significantly exceeds the $39,320 needed to comfortably afford a 2-bedroom at 30% of gross income — leaving a $25,055 annual surplus for savings, debt repayment, or lifestyle spending.

For remote workers or relocators evaluating Colona, a studio at $688/month offers an even more aggressive savings rate. Even a 3-bedroom at $1,199/month remains accessible for dual-income households earning above $47,960.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $58,980 would position you well — though many residents in Colona manage on less given the favorable rent-to-income dynamics.

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 Colona, Illinois.

With a total population of 5,404, the city supports an active civilian workforce of 3,107 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $39,320 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

3,107

Active civilian employees in Colona

Frequently Asked Questions About Renting in Colona

What salary do I need to live in Colona, Illinois?

To afford a 2-bedroom in Colona under the 30% rule, you need an annual salary of at least $39,320. The median household income in Colona is $64,375.

Can I afford a 2-bedroom in Colona on $64,375?

The affordability verdict for Colona is "Affordable". The rent-to-income ratio is 18.3%, meaning median earners have a $25,055 surplus.

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

The median gross rent in Colona is $816/month. With a median household income of $64,375, residents spend approximately 18.3% of their income on rent.

What salary do I need for a studio in Colona?

A studio in Colona rents for approximately $688/month. Under the 30% rule, you need an annual salary of $27,520 to afford this.

Is Colona considered an affordable place to live?

Based on the surplus of $25,055 and an affordability verdict of "Affordable", Colona is considered a affordable rental market when comparing the required 2-bedroom salary of $39,320 to the local median household income.

How Colona Compares

Other cities in Illinois with salary requirements