Affordable

What Salary Do You Need to Live in Farragut?

To afford a 2-bedroom in Farragut, you need to earn at least $28,720/year based on estimated fair market rent data. The median household income here is $47,500, which means the typical resident is $18,780 above the threshold.

Census ACS Data Pop. 396

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$503	$1,677	$20,120	$-27,380
1 Bedroom	$596	$1,987	$23,840	$-23,660
2 Bedroom BENCHMARK	$718	$2,393	$28,720	$-18,780
3 Bedroom	$876	$2,920	$35,040	$-12,460
4 Bedroom	$1,077	$3,590	$43,080	$-4,420

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$47,500

Annual household

2BR Required Salary

$28,720

Under 30% rule

Income Gap

+$18,780

Surplus

Verdict

Affordable

Ratio: 18.1%

The 30% Rule Calculator

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

Your Annual Salary

Pre-filled with Farragut's median household income

Max monthly rent you can afford$1,188

Studio

$503/mo

1 BR

$596/mo

2 BR

$718/mo

3 BR

$876/mo

4 BR

$1,077/mo

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

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Farragut

Living in Farragut is well within reach for most median-income earners. With a $18,780 cushion between what residents earn and what a 2-bedroom requires, households in Farragut typically have meaningful financial flexibility after housing costs.

For remote workers or relocators evaluating Farragut, a studio at $503/month offers an even more aggressive savings rate. Even a 3-bedroom at $876/month remains accessible for dual-income households earning above $35,040.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $43,080 would position you well — though many residents in Farragut 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 Farragut, Iowa.

With a total population of 396, 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 $28,720 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 Farragut

Frequently Asked Questions About Renting in Farragut

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

To afford a 2-bedroom in Farragut under the 30% rule, you need an annual salary of at least $28,720. The median household income in Farragut is $47,500.

Can I afford a 2-bedroom in Farragut on $47,500?

The affordability verdict for Farragut is "Affordable". The rent-to-income ratio is 18.1%, meaning median earners have a $18,780 surplus.

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

The median gross rent in Farragut is $596/month. With a median household income of $47,500, residents spend approximately 18.1% of their income on rent.

What salary do I need for a studio in Farragut?

A studio in Farragut rents for approximately $503/month. Under the 30% rule, you need an annual salary of $20,120 to afford this.

Is Farragut considered an affordable place to live?

Based on the surplus of $18,780 and an affordability verdict of "Affordable", Farragut is considered a affordable rental market when comparing the required 2-bedroom salary of $28,720 to the local median household income.

How Farragut Compares

Other cities in Iowa with salary requirements