Affordable

What Salary Do You Need to Live in Iona?

To afford a 2-bedroom in Iona, you need to earn at least $32,520/year based on estimated fair market rent data. The median household income here is $44,063, which means the typical resident is $11,543 above the threshold.

Census ACS Data Pop. 205

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$569	$1,897	$22,760	$-21,303
1 Bedroom	$675	$2,250	$27,000	$-17,063
2 Bedroom BENCHMARK	$813	$2,710	$32,520	$-11,543
3 Bedroom	$992	$3,307	$39,680	$-4,383
4 Bedroom	$1,220	$4,067	$48,800	+$4,737

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$44,063

Annual household

2BR Required Salary

$32,520

Under 30% rule

Income Gap

+$11,543

Surplus

Verdict

Affordable

Ratio: 22.1%

The 30% Rule Calculator

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

Your Annual Salary

Pre-filled with Iona's median household income

Max monthly rent you can afford$1,102

Studio

$569/mo

1 BR

$675/mo

2 BR

$813/mo

3 BR

$992/mo

4 BR

$1,220/mo

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

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Iona

Living in Iona is well within reach for most median-income earners. With a $11,543 cushion between what residents earn and what a 2-bedroom requires, households in Iona typically have meaningful financial flexibility after housing costs.

For remote workers or relocators evaluating Iona, a studio at $569/month offers an even more aggressive savings rate. Even a 3-bedroom at $992/month remains accessible for dual-income households earning above $39,680.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $48,780 would position you well — though many residents in Iona 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 Iona, Minnesota.

With a total population of 205, the city supports an active civilian workforce of 56 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $32,520 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 Iona

Frequently Asked Questions About Renting in Iona

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

To afford a 2-bedroom in Iona under the 30% rule, you need an annual salary of at least $32,520. The median household income in Iona is $44,063.

Can I afford a 2-bedroom in Iona on $44,063?

The affordability verdict for Iona is "Affordable". The rent-to-income ratio is 22.1%, meaning median earners have a $11,543 surplus.

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

The median gross rent in Iona is $675/month. With a median household income of $44,063, residents spend approximately 22.1% of their income on rent.

What salary do I need for a studio in Iona?

A studio in Iona rents for approximately $569/month. Under the 30% rule, you need an annual salary of $22,760 to afford this.

Is Iona considered an affordable place to live?

Based on the surplus of $11,543 and an affordability verdict of "Affordable", Iona is considered a affordable rental market when comparing the required 2-bedroom salary of $32,520 to the local median household income.

How Iona Compares

Other cities in Minnesota with salary requirements