Affordable

What Salary Do You Need to Live in New Hampton?

To afford a 2-bedroom in New Hampton, you need to earn at least $37,680/year based on estimated fair market rent data. The median household income here is $60,052, which means the typical resident is $22,372 above the threshold.

Census ACS Data Pop. 3,473

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$659	$2,197	$26,360	$-33,692
1 Bedroom	$782	$2,607	$31,280	$-28,772
2 Bedroom BENCHMARK	$942	$3,140	$37,680	$-22,372
3 Bedroom	$1,149	$3,830	$45,960	$-14,092
4 Bedroom	$1,413	$4,710	$56,520	$-3,532

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$60,052

Annual household

2BR Required Salary

$37,680

Under 30% rule

Income Gap

+$22,372

Surplus

Verdict

Affordable

Ratio: 18.8%

The 30% Rule Calculator

Enter your annual salary to see what you can afford in New Hampton

Your Annual Salary

Pre-filled with New Hampton's median household income

Max monthly rent you can afford$1,501

Studio

$659/mo

1 BR

$782/mo

2 BR

$942/mo

3 BR

$1,149/mo

4 BR

$1,413/mo

Your salary is $0 above the median income in New Hampton.

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to New Hampton

New Hampton, Iowa stands out as one of the more financially accessible housing markets in the state. The median household income of $60,052 significantly exceeds the $37,680 needed to comfortably afford a 2-bedroom at 30% of gross income — leaving a $22,372 annual surplus for savings, debt repayment, or lifestyle spending.

For remote workers or relocators evaluating New Hampton, a studio at $659/month offers an even more aggressive savings rate. Even a 3-bedroom at $1,149/month remains accessible for dual-income households earning above $45,960.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $56,520 would position you well — though many residents in New Hampton 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 New Hampton, Iowa.

With a total population of 3,473, the city supports an active civilian workforce of 1,758 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $37,680 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

1,758

Active civilian employees in New Hampton

Frequently Asked Questions About Renting in New Hampton

What salary do I need to live in New Hampton, Iowa?

To afford a 2-bedroom in New Hampton under the 30% rule, you need an annual salary of at least $37,680. The median household income in New Hampton is $60,052.

Can I afford a 2-bedroom in New Hampton on $60,052?

The affordability verdict for New Hampton is "Affordable". The rent-to-income ratio is 18.8%, meaning median earners have a $22,372 surplus.

What is the average rent in New Hampton compared to median income?

The median gross rent in New Hampton is $782/month. With a median household income of $60,052, residents spend approximately 18.8% of their income on rent.

What salary do I need for a studio in New Hampton?

A studio in New Hampton rents for approximately $659/month. Under the 30% rule, you need an annual salary of $26,360 to afford this.

Is New Hampton considered an affordable place to live?

Based on the surplus of $22,372 and an affordability verdict of "Affordable", New Hampton is considered a affordable rental market when comparing the required 2-bedroom salary of $37,680 to the local median household income.

How New Hampton Compares

Other cities in Iowa with salary requirements