Affordable

What Salary Do You Need to Live in Rake?

To afford a 2-bedroom in Rake, you need to earn at least $38,560/year based on estimated fair market rent data. The median household income here is $54,000, which means the typical resident is $15,440 above the threshold.

Census ACS Data Pop. 187

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$675	$2,250	$27,000	$-27,000
1 Bedroom	$800	$2,667	$32,000	$-22,000
2 Bedroom BENCHMARK	$964	$3,213	$38,560	$-15,440
3 Bedroom	$1,176	$3,920	$47,040	$-6,960
4 Bedroom	$1,446	$4,820	$57,840	+$3,840

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$54,000

Annual household

2BR Required Salary

$38,560

Under 30% rule

Income Gap

+$15,440

Surplus

Verdict

Affordable

Ratio: 21.4%

The 30% Rule Calculator

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

Your Annual Salary

Pre-filled with Rake's median household income

Max monthly rent you can afford$1,350

Studio

$675/mo

1 BR

$800/mo

2 BR

$964/mo

3 BR

$1,176/mo

4 BR

$1,446/mo

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

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Rake

Living in Rake is well within reach for most median-income earners. With a $15,440 cushion between what residents earn and what a 2-bedroom requires, households in Rake typically have meaningful financial flexibility after housing costs.

For remote workers or relocators evaluating Rake, a studio at $675/month offers an even more aggressive savings rate. Even a 3-bedroom at $1,176/month remains accessible for dual-income households earning above $47,040.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $57,840 would position you well — though many residents in Rake 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 Rake, Iowa.

With a total population of 187, the city supports an active civilian workforce of 70 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $38,560 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

Active civilian employees in Rake

Frequently Asked Questions About Renting in Rake

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

To afford a 2-bedroom in Rake under the 30% rule, you need an annual salary of at least $38,560. The median household income in Rake is $54,000.

Can I afford a 2-bedroom in Rake on $54,000?

The affordability verdict for Rake is "Affordable". The rent-to-income ratio is 21.4%, meaning median earners have a $15,440 surplus.

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

The median gross rent in Rake is $800/month. With a median household income of $54,000, residents spend approximately 21.4% of their income on rent.

What salary do I need for a studio in Rake?

A studio in Rake rents for approximately $675/month. Under the 30% rule, you need an annual salary of $27,000 to afford this.

Is Rake considered an affordable place to live?

Based on the surplus of $15,440 and an affordability verdict of "Affordable", Rake is considered a affordable rental market when comparing the required 2-bedroom salary of $38,560 to the local median household income.

How Rake Compares

Other cities in Iowa with salary requirements