Affordable

What Salary Do You Need to Live in Chisholm?

To afford a 2-bedroom in Chisholm, you need to earn at least $31,040/year based on estimated fair market rent data. The median household income here is $47,792, which means the typical resident is $16,752 above the threshold.

Census ACS Data Pop. 4,759

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$543	$1,810	$21,720	$-26,072
1 Bedroom	$644	$2,147	$25,760	$-22,032
2 Bedroom BENCHMARK	$776	$2,587	$31,040	$-16,752
3 Bedroom	$947	$3,157	$37,880	$-9,912
4 Bedroom	$1,164	$3,880	$46,560	$-1,232

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$47,792

Annual household

2BR Required Salary

$31,040

Under 30% rule

Income Gap

+$16,752

Surplus

Verdict

Affordable

Ratio: 19.5%

The 30% Rule Calculator

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

Your Annual Salary

Pre-filled with Chisholm's median household income

Max monthly rent you can afford$1,195

Studio

$543/mo

1 BR

$644/mo

2 BR

$776/mo

3 BR

$947/mo

4 BR

$1,164/mo

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

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Chisholm

Living in Chisholm is well within reach for most median-income earners. With a $16,752 cushion between what residents earn and what a 2-bedroom requires, households in Chisholm typically have meaningful financial flexibility after housing costs.

For remote workers or relocators evaluating Chisholm, a studio at $543/month offers an even more aggressive savings rate. Even a 3-bedroom at $947/month remains accessible for dual-income households earning above $37,880.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $46,560 would position you well — though many residents in Chisholm 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 Chisholm, Minnesota.

With a total population of 4,759, the city supports an active civilian workforce of 1,896 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $31,040 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

1,896

Active civilian employees in Chisholm

Frequently Asked Questions About Renting in Chisholm

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

To afford a 2-bedroom in Chisholm under the 30% rule, you need an annual salary of at least $31,040. The median household income in Chisholm is $47,792.

Can I afford a 2-bedroom in Chisholm on $47,792?

The affordability verdict for Chisholm is "Affordable". The rent-to-income ratio is 19.5%, meaning median earners have a $16,752 surplus.

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

The median gross rent in Chisholm is $644/month. With a median household income of $47,792, residents spend approximately 19.5% of their income on rent.

What salary do I need for a studio in Chisholm?

A studio in Chisholm rents for approximately $543/month. Under the 30% rule, you need an annual salary of $21,720 to afford this.

Is Chisholm considered an affordable place to live?

Based on the surplus of $16,752 and an affordability verdict of "Affordable", Chisholm is considered a affordable rental market when comparing the required 2-bedroom salary of $31,040 to the local median household income.

How Chisholm Compares

Other cities in Minnesota with salary requirements