Affordable

What Salary Do You Need to Live in Algona?

To afford a 2-bedroom in Algona, you need to earn at least $41,680/year based on estimated fair market rent data. The median household income here is $52,903, which means the typical resident is $11,223 above the threshold.

Census ACS Data Pop. 5,443

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$729	$2,430	$29,160	$-23,743
1 Bedroom	$865	$2,883	$34,600	$-18,303
2 Bedroom BENCHMARK	$1,042	$3,473	$41,680	$-11,223
3 Bedroom	$1,271	$4,237	$50,840	$-2,063
4 Bedroom	$1,563	$5,210	$62,520	+$9,617

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$52,903

Annual household

2BR Required Salary

$41,680

Under 30% rule

Income Gap

+$11,223

Surplus

Verdict

Affordable

Ratio: 23.6%

The 30% Rule Calculator

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

Your Annual Salary

Pre-filled with Algona's median household income

Max monthly rent you can afford$1,323

Studio

$729/mo

1 BR

$865/mo

2 BR

$1,042/mo

3 BR

$1,271/mo

4 BR

$1,563/mo

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

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Algona

Living in Algona is well within reach for most median-income earners. With a $11,223 cushion between what residents earn and what a 2-bedroom requires, households in Algona typically have meaningful financial flexibility after housing costs.

For remote workers or relocators evaluating Algona, a studio at $729/month offers an even more aggressive savings rate. Even a 3-bedroom at $1,271/month remains accessible for dual-income households earning above $50,840.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $62,520 would position you well — though many residents in Algona 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 Algona, Iowa.

With a total population of 5,443, the city supports an active civilian workforce of 2,534 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $41,680 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

2,534

Active civilian employees in Algona

Frequently Asked Questions About Renting in Algona

What salary do I need to live in Algona, Iowa?

To afford a 2-bedroom in Algona under the 30% rule, you need an annual salary of at least $41,680. The median household income in Algona is $52,903.

Can I afford a 2-bedroom in Algona on $52,903?

The affordability verdict for Algona is "Affordable". The rent-to-income ratio is 23.6%, meaning median earners have a $11,223 surplus.

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

The median gross rent in Algona is $865/month. With a median household income of $52,903, residents spend approximately 23.6% of their income on rent.

What salary do I need for a studio in Algona?

A studio in Algona rents for approximately $729/month. Under the 30% rule, you need an annual salary of $29,160 to afford this.

Is Algona considered an affordable place to live?

Based on the surplus of $11,223 and an affordability verdict of "Affordable", Algona is considered a affordable rental market when comparing the required 2-bedroom salary of $41,680 to the local median household income.

How Algona Compares

Other cities in Iowa with salary requirements