Stretched

What Salary Do You Need to Live in Fayette?

To afford a 2-bedroom in Fayette, you need to earn at least $44,480/year based on estimated fair market rent data. The median household income here is $39,375, which means the typical resident is $5,105 below the threshold.

Census ACS Data Pop. 1,179

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$778	$2,593	$31,120	$-8,255
1 Bedroom	$923	$3,077	$36,920	$-2,455
2 Bedroom BENCHMARK	$1,112	$3,707	$44,480	+$5,105
3 Bedroom	$1,357	$4,523	$54,280	+$14,905
4 Bedroom	$1,668	$5,560	$66,720	+$27,345

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$39,375

Annual household

2BR Required Salary

$44,480

Under 30% rule

Income Gap

-$5,105

Deficit

Verdict

Stretched

Ratio: 33.9%

The 30% Rule Calculator

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

Your Annual Salary

Pre-filled with Fayette's median household income

Max monthly rent you can afford$984

Studio

$778/mo

1 BR

$923/mo

2 BR

$1,112/mo

3 BR

$1,357/mo

4 BR

$1,668/mo

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

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Fayette

Fayette's rental market puts real pressure on median earners. A 2-bedroom at $1,112/month requires $44,480/year — about $5,105 more than the median household income. Roommates or dual incomes significantly change the equation.

If you're relocating to Fayette, target the studio or 1-bedroom tier ($778–$923/month) unless your income exceeds $44,480. A roommate splitting a 2-bedroom effectively halves the individual rent burden to $556/month.

The break-even salary for comfortable living in Fayette is approximately $66,720. Below this threshold, expect housing to consume a disproportionate share of your budget, limiting discretionary spending and savings capacity.

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 Fayette, Iowa.

With a total population of 1,179, the city supports an active civilian workforce of 637 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $44,480 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

637

Active civilian employees in Fayette

Frequently Asked Questions About Renting in Fayette

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

To afford a 2-bedroom in Fayette under the 30% rule, you need an annual salary of at least $44,480. The median household income in Fayette is $39,375.

Can I afford a 2-bedroom in Fayette on $39,375?

The affordability verdict for Fayette is "Stretched". The rent-to-income ratio is 33.9%, meaning there's a $5,105 income gap.

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

The median gross rent in Fayette is $923/month. With a median household income of $39,375, residents spend approximately 33.9% of their income on rent.

What salary do I need for a studio in Fayette?

A studio in Fayette rents for approximately $778/month. Under the 30% rule, you need an annual salary of $31,120 to afford this.

Is Fayette considered an affordable place to live?

Based on the deficit of $5,105 and an affordability verdict of "Stretched", Fayette is considered a stretched rental market when comparing the required 2-bedroom salary of $44,480 to the local median household income.

How Fayette Compares

Other cities in Iowa with salary requirements