Stretched

What Salary Do You Need to Live in Federal Dam?

To afford a 2-bedroom in Federal Dam, you need to earn at least $61,960/year based on estimated fair market rent data. The median household income here is $52,083, which means the typical resident is $9,877 below the threshold.

Census ACS Data Pop. 158

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$1,084	$3,613	$43,360	$-8,723
1 Bedroom	$1,286	$4,287	$51,440	$-643
2 Bedroom BENCHMARK	$1,549	$5,163	$61,960	+$9,877
3 Bedroom	$1,890	$6,300	$75,600	+$23,517
4 Bedroom	$2,324	$7,747	$92,960	+$40,877

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$52,083

Annual household

2BR Required Salary

$61,960

Under 30% rule

Income Gap

-$9,877

Deficit

Verdict

Stretched

Ratio: 35.7%

The 30% Rule Calculator

Enter your annual salary to see what you can afford in Federal Dam

Your Annual Salary

Pre-filled with Federal Dam's median household income

Max monthly rent you can afford$1,302

Studio

$1,084/mo

1 BR

$1,286/mo

2 BR

$1,549/mo

3 BR

$1,890/mo

4 BR

$2,324/mo

Your salary is $0 above the median income in Federal Dam.

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Federal Dam

Federal Dam's rental market puts real pressure on median earners. A 2-bedroom at $1,549/month requires $61,960/year — about $9,877 more than the median household income. Roommates or dual incomes significantly change the equation.

If you're relocating to Federal Dam, target the studio or 1-bedroom tier ($1,084–$1,286/month) unless your income exceeds $61,960. A roommate splitting a 2-bedroom effectively halves the individual rent burden to $775/month.

The break-even salary for comfortable living in Federal Dam is approximately $92,940. Below this threshold, expect housing to consume a disproportionate share of your budget, limiting discretionary spending and savings capacity.

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 Federal Dam, Minnesota.

With a total population of 158, the city supports an active civilian workforce of 55 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $61,960 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

Active civilian employees in Federal Dam

Frequently Asked Questions About Renting in Federal Dam

What salary do I need to live in Federal Dam, Minnesota?

To afford a 2-bedroom in Federal Dam under the 30% rule, you need an annual salary of at least $61,960. The median household income in Federal Dam is $52,083.

Can I afford a 2-bedroom in Federal Dam on $52,083?

The affordability verdict for Federal Dam is "Stretched". The rent-to-income ratio is 35.7%, meaning there's a $9,877 income gap.

What is the average rent in Federal Dam compared to median income?

The median gross rent in Federal Dam is $1,286/month. With a median household income of $52,083, residents spend approximately 35.7% of their income on rent.

What salary do I need for a studio in Federal Dam?

A studio in Federal Dam rents for approximately $1,084/month. Under the 30% rule, you need an annual salary of $43,360 to afford this.

Is Federal Dam considered an affordable place to live?

Based on the deficit of $9,877 and an affordability verdict of "Stretched", Federal Dam is considered a stretched rental market when comparing the required 2-bedroom salary of $61,960 to the local median household income.

How Federal Dam Compares

Other cities in Minnesota with salary requirements