Affordable

What Salary Do You Need to Live in Austin?

To afford a 2-bedroom in Austin, you need to earn at least $42,280/year based on estimated fair market rent data. The median household income here is $61,667, which means the typical resident is $19,387 above the threshold.

Census ACS Data Pop. 26,156

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$740	$2,467	$29,600	$-32,067
1 Bedroom	$877	$2,923	$35,080	$-26,587
2 Bedroom BENCHMARK	$1,057	$3,523	$42,280	$-19,387
3 Bedroom	$1,290	$4,300	$51,600	$-10,067
4 Bedroom	$1,586	$5,287	$63,440	+$1,773

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$61,667

Annual household

2BR Required Salary

$42,280

Under 30% rule

Income Gap

+$19,387

Surplus

Verdict

Affordable

Ratio: 20.6%

The 30% Rule Calculator

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

Your Annual Salary

Pre-filled with Austin's median household income

Max monthly rent you can afford$1,542

Studio

$740/mo

1 BR

$877/mo

2 BR

$1,057/mo

3 BR

$1,290/mo

4 BR

$1,586/mo

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

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Austin

Living in Austin is well within reach for most median-income earners. With a $19,387 cushion between what residents earn and what a 2-bedroom requires, households in Austin typically have meaningful financial flexibility after housing costs.

For remote workers or relocators evaluating Austin, a studio at $740/month offers an even more aggressive savings rate. Even a 3-bedroom at $1,290/month remains accessible for dual-income households earning above $51,600.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $63,420 would position you well — though many residents in Austin 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 Austin, Minnesota.

With a total population of 26,156, the city supports an active civilian workforce of 12,308 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $42,280 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

12,308

Active civilian employees in Austin

Frequently Asked Questions About Renting in Austin

What salary do I need to live in Austin, Minnesota?

To afford a 2-bedroom in Austin under the 30% rule, you need an annual salary of at least $42,280. The median household income in Austin is $61,667.

Can I afford a 2-bedroom in Austin on $61,667?

The affordability verdict for Austin is "Affordable". The rent-to-income ratio is 20.6%, meaning median earners have a $19,387 surplus.

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

The median gross rent in Austin is $877/month. With a median household income of $61,667, residents spend approximately 20.6% of their income on rent.

What salary do I need for a studio in Austin?

A studio in Austin rents for approximately $740/month. Under the 30% rule, you need an annual salary of $29,600 to afford this.

Is Austin considered an affordable place to live?

Based on the surplus of $19,387 and an affordability verdict of "Affordable", Austin is considered a affordable rental market when comparing the required 2-bedroom salary of $42,280 to the local median household income.

How Austin Compares

Other cities in Minnesota with salary requirements