Affordable

What Salary Do You Need to Live in Glencoe?

To afford a 2-bedroom in Glencoe, you need to earn at least $41,000/year based on estimated fair market rent data. The median household income here is $67,547, which means the typical resident is $26,547 above the threshold.

Census ACS Data Pop. 5,712

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$718	$2,393	$28,720	$-38,827
1 Bedroom	$851	$2,837	$34,040	$-33,507
2 Bedroom BENCHMARK	$1,025	$3,417	$41,000	$-26,547
3 Bedroom	$1,251	$4,170	$50,040	$-17,507
4 Bedroom	$1,538	$5,127	$61,520	$-6,027

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$67,547

Annual household

2BR Required Salary

$41,000

Under 30% rule

Income Gap

+$26,547

Surplus

Verdict

Affordable

Ratio: 18.2%

The 30% Rule Calculator

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

Your Annual Salary

Pre-filled with Glencoe's median household income

Max monthly rent you can afford$1,689

Studio

$718/mo

1 BR

$851/mo

2 BR

$1,025/mo

3 BR

$1,251/mo

4 BR

$1,538/mo

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

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Glencoe

Glencoe, Minnesota stands out as one of the more financially accessible housing markets in the state. The median household income of $67,547 significantly exceeds the $41,000 needed to comfortably afford a 2-bedroom at 30% of gross income — leaving a $26,547 annual surplus for savings, debt repayment, or lifestyle spending.

For remote workers or relocators evaluating Glencoe, a studio at $718/month offers an even more aggressive savings rate. Even a 3-bedroom at $1,251/month remains accessible for dual-income households earning above $50,040.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $61,500 would position you well — though many residents in Glencoe 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 Glencoe, Minnesota.

With a total population of 5,712, the city supports an active civilian workforce of 2,891 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $41,000 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

2,891

Active civilian employees in Glencoe

Frequently Asked Questions About Renting in Glencoe

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

To afford a 2-bedroom in Glencoe under the 30% rule, you need an annual salary of at least $41,000. The median household income in Glencoe is $67,547.

Can I afford a 2-bedroom in Glencoe on $67,547?

The affordability verdict for Glencoe is "Affordable". The rent-to-income ratio is 18.2%, meaning median earners have a $26,547 surplus.

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

The median gross rent in Glencoe is $851/month. With a median household income of $67,547, residents spend approximately 18.2% of their income on rent.

What salary do I need for a studio in Glencoe?

A studio in Glencoe rents for approximately $718/month. Under the 30% rule, you need an annual salary of $28,720 to afford this.

Is Glencoe considered an affordable place to live?

Based on the surplus of $26,547 and an affordability verdict of "Affordable", Glencoe is considered a affordable rental market when comparing the required 2-bedroom salary of $41,000 to the local median household income.

How Glencoe Compares

Other cities in Minnesota with salary requirements