Affordable

What Salary Do You Need to Live in Bingham?

To afford a 2-bedroom in Bingham, you need to earn at least $32,960/year based on estimated fair market rent data. The median household income here is $41,618, which means the typical resident is $8,658 above the threshold.

Census ACS Data Pop. 625

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$577	$1,923	$23,080	$-18,538
1 Bedroom	$684	$2,280	$27,360	$-14,258
2 Bedroom BENCHMARK	$824	$2,747	$32,960	$-8,658
3 Bedroom	$1,005	$3,350	$40,200	$-1,418
4 Bedroom	$1,236	$4,120	$49,440	+$7,822

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$41,618

Annual household

2BR Required Salary

$32,960

Under 30% rule

Income Gap

+$8,658

Surplus

Verdict

Affordable

Ratio: 23.8%

The 30% Rule Calculator

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

Your Annual Salary

Pre-filled with Bingham's median household income

Max monthly rent you can afford$1,040

Studio

$577/mo

1 BR

$684/mo

2 BR

$824/mo

3 BR

$1,005/mo

4 BR

$1,236/mo

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

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Bingham

Living in Bingham is well within reach for most median-income earners. With a $8,658 cushion between what residents earn and what a 2-bedroom requires, households in Bingham typically have meaningful financial flexibility after housing costs.

For remote workers or relocators evaluating Bingham, a studio at $577/month offers an even more aggressive savings rate. Even a 3-bedroom at $1,005/month remains accessible for dual-income households earning above $40,200.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $49,440 would position you well — though many residents in Bingham 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 Bingham, Maine.

With a total population of 625, the city supports an active civilian workforce of 276 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $32,960 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

276

Active civilian employees in Bingham

Frequently Asked Questions About Renting in Bingham

What salary do I need to live in Bingham, Maine?

To afford a 2-bedroom in Bingham under the 30% rule, you need an annual salary of at least $32,960. The median household income in Bingham is $41,618.

Can I afford a 2-bedroom in Bingham on $41,618?

The affordability verdict for Bingham is "Affordable". The rent-to-income ratio is 23.8%, meaning median earners have a $8,658 surplus.

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

The median gross rent in Bingham is $684/month. With a median household income of $41,618, residents spend approximately 23.8% of their income on rent.

What salary do I need for a studio in Bingham?

A studio in Bingham rents for approximately $577/month. Under the 30% rule, you need an annual salary of $23,080 to afford this.

Is Bingham considered an affordable place to live?

Based on the surplus of $8,658 and an affordability verdict of "Affordable", Bingham is considered a affordable rental market when comparing the required 2-bedroom salary of $32,960 to the local median household income.

How Bingham Compares

Other cities in Maine with salary requirements