Affordable

What Salary Do You Need to Live in Granada?

To afford a 2-bedroom in Granada, you need to earn at least $37,360/year based on estimated fair market rent data. The median household income here is $53,438, which means the typical resident is $16,078 above the threshold.

Census ACS Data Pop. 224

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$654	$2,180	$26,160	$-27,278
1 Bedroom	$775	$2,583	$31,000	$-22,438
2 Bedroom BENCHMARK	$934	$3,113	$37,360	$-16,078
3 Bedroom	$1,139	$3,797	$45,560	$-7,878
4 Bedroom	$1,401	$4,670	$56,040	+$2,602

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$53,438

Annual household

2BR Required Salary

$37,360

Under 30% rule

Income Gap

+$16,078

Surplus

Verdict

Affordable

Ratio: 21.0%

The 30% Rule Calculator

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

Your Annual Salary

Pre-filled with Granada's median household income

Max monthly rent you can afford$1,336

Studio

$654/mo

1 BR

$775/mo

2 BR

$934/mo

3 BR

$1,139/mo

4 BR

$1,401/mo

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

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Granada

Living in Granada is well within reach for most median-income earners. With a $16,078 cushion between what residents earn and what a 2-bedroom requires, households in Granada typically have meaningful financial flexibility after housing costs.

For remote workers or relocators evaluating Granada, a studio at $654/month offers an even more aggressive savings rate. Even a 3-bedroom at $1,139/month remains accessible for dual-income households earning above $45,560.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $56,040 would position you well — though many residents in Granada 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 Granada, Minnesota.

With a total population of 224, the city supports an active civilian workforce of 107 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $37,360 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

107

Active civilian employees in Granada

Frequently Asked Questions About Renting in Granada

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

To afford a 2-bedroom in Granada under the 30% rule, you need an annual salary of at least $37,360. The median household income in Granada is $53,438.

Can I afford a 2-bedroom in Granada on $53,438?

The affordability verdict for Granada is "Affordable". The rent-to-income ratio is 21.0%, meaning median earners have a $16,078 surplus.

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

The median gross rent in Granada is $775/month. With a median household income of $53,438, residents spend approximately 21.0% of their income on rent.

What salary do I need for a studio in Granada?

A studio in Granada rents for approximately $654/month. Under the 30% rule, you need an annual salary of $26,160 to afford this.

Is Granada considered an affordable place to live?

Based on the surplus of $16,078 and an affordability verdict of "Affordable", Granada is considered a affordable rental market when comparing the required 2-bedroom salary of $37,360 to the local median household income.

How Granada Compares

Other cities in Minnesota with salary requirements