Unaffordable

What Salary Do You Need to Live in Laurel?

To afford a 2-bedroom in Laurel, you need to earn at least $40,720/year based on estimated fair market rent data. The median household income here is $23,125, which means the typical resident is $17,595 below the threshold.

Census ACS Data Pop. 588

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$713	$2,377	$28,520	+$5,395
1 Bedroom	$845	$2,817	$33,800	+$10,675
2 Bedroom BENCHMARK	$1,018	$3,393	$40,720	+$17,595
3 Bedroom	$1,242	$4,140	$49,680	+$26,555
4 Bedroom	$1,527	$5,090	$61,080	+$37,955

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$23,125

Annual household

2BR Required Salary

$40,720

Under 30% rule

Income Gap

-$17,595

Deficit

Verdict

Unaffordable

Ratio: 52.8%

The 30% Rule Calculator

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

Your Annual Salary

Pre-filled with Laurel's median household income

Max monthly rent you can afford$578

Studio

$713/mo

1 BR

$845/mo

2 BR

$1,018/mo

3 BR

$1,242/mo

4 BR

$1,527/mo

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

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Laurel

Renting in Laurel is unaffordable for most median earners. The $17,595 income gap means a 2-bedroom at $1,018/month requires significant above-median earnings or a dual-income household to be sustainable.

For those committed to Laurel, the realistic options are: (1) target a studio at $713/month, which requires $28,520/year — closer to the median; (2) find a roommate for a 2-bedroom, cutting individual costs to ~$509/month; or (3) negotiate remote work and live in a more affordable Indiana city.

To live comfortably in Laurel without financial strain, you realistically need a household income of $61,080 or higher. This isn't just about rent — it accounts for Indiana's overall cost of living including transportation, food, and healthcare.

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 Laurel, Indiana.

With a total population of 588, the city supports an active civilian workforce of 208 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $40,720 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

208

Active civilian employees in Laurel

Frequently Asked Questions About Renting in Laurel

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

To afford a 2-bedroom in Laurel under the 30% rule, you need an annual salary of at least $40,720. The median household income in Laurel is $23,125.

Can I afford a 2-bedroom in Laurel on $23,125?

The affordability verdict for Laurel is "Unaffordable". The rent-to-income ratio is 52.8%, meaning there's a $17,595 income gap.

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

The median gross rent in Laurel is $845/month. With a median household income of $23,125, residents spend approximately 52.8% of their income on rent.

What salary do I need for a studio in Laurel?

A studio in Laurel rents for approximately $713/month. Under the 30% rule, you need an annual salary of $28,520 to afford this.

Is Laurel considered an affordable place to live?

Based on the deficit of $17,595 and an affordability verdict of "Unaffordable", Laurel is considered a unaffordable rental market when comparing the required 2-bedroom salary of $40,720 to the local median household income.

How Laurel Compares

Other cities in Indiana with salary requirements