Affordable

What Salary Do You Need to Live in Evansville?

To afford a 2-bedroom in Evansville, you need to earn at least $32,000/year based on estimated fair market rent data. The median household income here is $48,750, which means the typical resident is $16,750 above the threshold.

Census ACS Data Pop. 659

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$560	$1,867	$22,400	$-26,350
1 Bedroom	$664	$2,213	$26,560	$-22,190
2 Bedroom BENCHMARK	$800	$2,667	$32,000	$-16,750
3 Bedroom	$976	$3,253	$39,040	$-9,710
4 Bedroom	$1,200	$4,000	$48,000	$-750

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$48,750

Annual household

2BR Required Salary

$32,000

Under 30% rule

Income Gap

+$16,750

Surplus

Verdict

Affordable

Ratio: 19.7%

The 30% Rule Calculator

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

Your Annual Salary

Pre-filled with Evansville's median household income

Max monthly rent you can afford$1,219

Studio

$560/mo

1 BR

$664/mo

2 BR

$800/mo

3 BR

$976/mo

4 BR

$1,200/mo

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

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Evansville

Living in Evansville is well within reach for most median-income earners. With a $16,750 cushion between what residents earn and what a 2-bedroom requires, households in Evansville typically have meaningful financial flexibility after housing costs.

For remote workers or relocators evaluating Evansville, a studio at $560/month offers an even more aggressive savings rate. Even a 3-bedroom at $976/month remains accessible for dual-income households earning above $39,040.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $48,000 would position you well — though many residents in Evansville 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 Evansville, Minnesota.

With a total population of 659, the city supports an active civilian workforce of 296 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $32,000 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

296

Active civilian employees in Evansville

Frequently Asked Questions About Renting in Evansville

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

To afford a 2-bedroom in Evansville under the 30% rule, you need an annual salary of at least $32,000. The median household income in Evansville is $48,750.

Can I afford a 2-bedroom in Evansville on $48,750?

The affordability verdict for Evansville is "Affordable". The rent-to-income ratio is 19.7%, meaning median earners have a $16,750 surplus.

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

The median gross rent in Evansville is $664/month. With a median household income of $48,750, residents spend approximately 19.7% of their income on rent.

What salary do I need for a studio in Evansville?

A studio in Evansville rents for approximately $560/month. Under the 30% rule, you need an annual salary of $22,400 to afford this.

Is Evansville considered an affordable place to live?

Based on the surplus of $16,750 and an affordability verdict of "Affordable", Evansville is considered a affordable rental market when comparing the required 2-bedroom salary of $32,000 to the local median household income.

How Evansville Compares

Other cities in Minnesota with salary requirements