Affordable

What Salary Do You Need to Live in Coleraine?

To afford a 2-bedroom in Coleraine, you need to earn at least $40,520/year based on estimated fair market rent data. The median household income here is $65,221, which means the typical resident is $24,701 above the threshold.

Census ACS Data Pop. 1,865

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$709	$2,363	$28,360	$-36,861
1 Bedroom	$841	$2,803	$33,640	$-31,581
2 Bedroom BENCHMARK	$1,013	$3,377	$40,520	$-24,701
3 Bedroom	$1,236	$4,120	$49,440	$-15,781
4 Bedroom	$1,520	$5,067	$60,800	$-4,421

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$65,221

Annual household

2BR Required Salary

$40,520

Under 30% rule

Income Gap

+$24,701

Surplus

Verdict

Affordable

Ratio: 18.6%

The 30% Rule Calculator

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

Your Annual Salary

Pre-filled with Coleraine's median household income

Max monthly rent you can afford$1,631

Studio

$709/mo

1 BR

$841/mo

2 BR

$1,013/mo

3 BR

$1,236/mo

4 BR

$1,520/mo

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

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Coleraine

Coleraine, Minnesota stands out as one of the more financially accessible housing markets in the state. The median household income of $65,221 significantly exceeds the $40,520 needed to comfortably afford a 2-bedroom at 30% of gross income — leaving a $24,701 annual surplus for savings, debt repayment, or lifestyle spending.

For remote workers or relocators evaluating Coleraine, a studio at $709/month offers an even more aggressive savings rate. Even a 3-bedroom at $1,236/month remains accessible for dual-income households earning above $49,440.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $60,780 would position you well — though many residents in Coleraine 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 Coleraine, Minnesota.

With a total population of 1,865, the city supports an active civilian workforce of 866 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $40,520 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

866

Active civilian employees in Coleraine

Frequently Asked Questions About Renting in Coleraine

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

To afford a 2-bedroom in Coleraine under the 30% rule, you need an annual salary of at least $40,520. The median household income in Coleraine is $65,221.

Can I afford a 2-bedroom in Coleraine on $65,221?

The affordability verdict for Coleraine is "Affordable". The rent-to-income ratio is 18.6%, meaning median earners have a $24,701 surplus.

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

The median gross rent in Coleraine is $841/month. With a median household income of $65,221, residents spend approximately 18.6% of their income on rent.

What salary do I need for a studio in Coleraine?

A studio in Coleraine rents for approximately $709/month. Under the 30% rule, you need an annual salary of $28,360 to afford this.

Is Coleraine considered an affordable place to live?

Based on the surplus of $24,701 and an affordability verdict of "Affordable", Coleraine is considered a affordable rental market when comparing the required 2-bedroom salary of $40,520 to the local median household income.

How Coleraine Compares

Other cities in Minnesota with salary requirements