Affordable

What Salary Do You Need to Live in Hermantown?

To afford a 2-bedroom in Hermantown, you need to earn at least $57,200/year based on estimated fair market rent data. The median household income here is $85,417, which means the typical resident is $28,217 above the threshold.

Census ACS Data Pop. 10,135

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$1,001	$3,337	$40,040	$-45,377
1 Bedroom	$1,187	$3,957	$47,480	$-37,937
2 Bedroom BENCHMARK	$1,430	$4,767	$57,200	$-28,217
3 Bedroom	$1,745	$5,817	$69,800	$-15,617
4 Bedroom	$2,145	$7,150	$85,800	+$383

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$85,417

Annual household

2BR Required Salary

$57,200

Under 30% rule

Income Gap

+$28,217

Surplus

Verdict

Affordable

Ratio: 20.1%

The 30% Rule Calculator

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

Your Annual Salary

Pre-filled with Hermantown's median household income

Max monthly rent you can afford$2,135

Studio

$1,001/mo

1 BR

$1,187/mo

2 BR

$1,430/mo

3 BR

$1,745/mo

4 BR

$2,145/mo

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

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Hermantown

Hermantown, Minnesota stands out as one of the more financially accessible housing markets in the state. The median household income of $85,417 significantly exceeds the $57,200 needed to comfortably afford a 2-bedroom at 30% of gross income — leaving a $28,217 annual surplus for savings, debt repayment, or lifestyle spending.

For remote workers or relocators evaluating Hermantown, a studio at $1,001/month offers an even more aggressive savings rate. Even a 3-bedroom at $1,745/month remains accessible for dual-income households earning above $69,800.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $85,800 would position you well — though many residents in Hermantown 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 Hermantown, Minnesota.

With a total population of 10,135, the city supports an active civilian workforce of 4,856 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $57,200 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

4,856

Active civilian employees in Hermantown

Frequently Asked Questions About Renting in Hermantown

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

To afford a 2-bedroom in Hermantown under the 30% rule, you need an annual salary of at least $57,200. The median household income in Hermantown is $85,417.

Can I afford a 2-bedroom in Hermantown on $85,417?

The affordability verdict for Hermantown is "Affordable". The rent-to-income ratio is 20.1%, meaning median earners have a $28,217 surplus.

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

The median gross rent in Hermantown is $1,187/month. With a median household income of $85,417, residents spend approximately 20.1% of their income on rent.

What salary do I need for a studio in Hermantown?

A studio in Hermantown rents for approximately $1,001/month. Under the 30% rule, you need an annual salary of $40,040 to afford this.

Is Hermantown considered an affordable place to live?

Based on the surplus of $28,217 and an affordability verdict of "Affordable", Hermantown is considered a affordable rental market when comparing the required 2-bedroom salary of $57,200 to the local median household income.

How Hermantown Compares

Other cities in Minnesota with salary requirements