Affordable

What Salary Do You Need to Live in Genoa?

To afford a 2-bedroom in Genoa, you need to earn at least $50,400/year based on estimated fair market rent data. The median household income here is $80,408, which means the typical resident is $30,008 above the threshold.

Census ACS Data Pop. 5,044

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$882	$2,940	$35,280	$-45,128
1 Bedroom	$1,046	$3,487	$41,840	$-38,568
2 Bedroom BENCHMARK	$1,260	$4,200	$50,400	$-30,008
3 Bedroom	$1,537	$5,123	$61,480	$-18,928
4 Bedroom	$1,890	$6,300	$75,600	$-4,808

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$80,408

Annual household

2BR Required Salary

$50,400

Under 30% rule

Income Gap

+$30,008

Surplus

Verdict

Affordable

Ratio: 18.8%

The 30% Rule Calculator

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

Your Annual Salary

Pre-filled with Genoa's median household income

Max monthly rent you can afford$2,010

Studio

$882/mo

1 BR

$1,046/mo

2 BR

$1,260/mo

3 BR

$1,537/mo

4 BR

$1,890/mo

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

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Genoa

Genoa, Illinois stands out as one of the more financially accessible housing markets in the state. The median household income of $80,408 significantly exceeds the $50,400 needed to comfortably afford a 2-bedroom at 30% of gross income — leaving a $30,008 annual surplus for savings, debt repayment, or lifestyle spending.

For remote workers or relocators evaluating Genoa, a studio at $882/month offers an even more aggressive savings rate. Even a 3-bedroom at $1,537/month remains accessible for dual-income households earning above $61,480.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $75,600 would position you well — though many residents in Genoa 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 Genoa, Illinois.

With a total population of 5,044, the city supports an active civilian workforce of 2,919 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $50,400 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

2,919

Active civilian employees in Genoa

Frequently Asked Questions About Renting in Genoa

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

To afford a 2-bedroom in Genoa under the 30% rule, you need an annual salary of at least $50,400. The median household income in Genoa is $80,408.

Can I afford a 2-bedroom in Genoa on $80,408?

The affordability verdict for Genoa is "Affordable". The rent-to-income ratio is 18.8%, meaning median earners have a $30,008 surplus.

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

The median gross rent in Genoa is $1,046/month. With a median household income of $80,408, residents spend approximately 18.8% of their income on rent.

What salary do I need for a studio in Genoa?

A studio in Genoa rents for approximately $882/month. Under the 30% rule, you need an annual salary of $35,280 to afford this.

Is Genoa considered an affordable place to live?

Based on the surplus of $30,008 and an affordability verdict of "Affordable", Genoa is considered a affordable rental market when comparing the required 2-bedroom salary of $50,400 to the local median household income.

How Genoa Compares

Other cities in Illinois with salary requirements