Affordable

What Salary Do You Need to Live in Charlestown?

To afford a 2-bedroom in Charlestown, you need to earn at least $35,000/year based on estimated fair market rent data. The median household income here is $66,285, which means the typical resident is $31,285 above the threshold.

Census ACS Data Pop. 7,986

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$613	$2,043	$24,520	$-41,765
1 Bedroom	$726	$2,420	$29,040	$-37,245
2 Bedroom BENCHMARK	$875	$2,917	$35,000	$-31,285
3 Bedroom	$1,068	$3,560	$42,720	$-23,565
4 Bedroom	$1,313	$4,377	$52,520	$-13,765

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$66,285

Annual household

2BR Required Salary

$35,000

Under 30% rule

Income Gap

+$31,285

Surplus

Verdict

Affordable

Ratio: 15.8%

The 30% Rule Calculator

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

Your Annual Salary

Pre-filled with Charlestown's median household income

Max monthly rent you can afford$1,657

Studio

$613/mo

1 BR

$726/mo

2 BR

$875/mo

3 BR

$1,068/mo

4 BR

$1,313/mo

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

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Charlestown

Charlestown, Indiana stands out as one of the more financially accessible housing markets in the state. The median household income of $66,285 significantly exceeds the $35,000 needed to comfortably afford a 2-bedroom at 30% of gross income — leaving a $31,285 annual surplus for savings, debt repayment, or lifestyle spending.

For remote workers or relocators evaluating Charlestown, a studio at $613/month offers an even more aggressive savings rate. Even a 3-bedroom at $1,068/month remains accessible for dual-income households earning above $42,720.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $52,500 would position you well — though many residents in Charlestown 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 Charlestown, Indiana.

With a total population of 7,986, the city supports an active civilian workforce of 3,881 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $35,000 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

3,881

Active civilian employees in Charlestown

Frequently Asked Questions About Renting in Charlestown

What salary do I need to live in Charlestown, Indiana?

To afford a 2-bedroom in Charlestown under the 30% rule, you need an annual salary of at least $35,000. The median household income in Charlestown is $66,285.

Can I afford a 2-bedroom in Charlestown on $66,285?

The affordability verdict for Charlestown is "Affordable". The rent-to-income ratio is 15.8%, meaning median earners have a $31,285 surplus.

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

The median gross rent in Charlestown is $726/month. With a median household income of $66,285, residents spend approximately 15.8% of their income on rent.

What salary do I need for a studio in Charlestown?

A studio in Charlestown rents for approximately $613/month. Under the 30% rule, you need an annual salary of $24,520 to afford this.

Is Charlestown considered an affordable place to live?

Based on the surplus of $31,285 and an affordability verdict of "Affordable", Charlestown is considered a affordable rental market when comparing the required 2-bedroom salary of $35,000 to the local median household income.

How Charlestown Compares

Other cities in Indiana with salary requirements