Affordable

What Salary Do You Need to Live in Lake Wilson?

To afford a 2-bedroom in Lake Wilson, you need to earn at least $36,160/year based on estimated fair market rent data. The median household income here is $64,375, which means the typical resident is $28,215 above the threshold.

Census ACS Data Pop. 213

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$633	$2,110	$25,320	$-39,055
1 Bedroom	$750	$2,500	$30,000	$-34,375
2 Bedroom BENCHMARK	$904	$3,013	$36,160	$-28,215
3 Bedroom	$1,103	$3,677	$44,120	$-20,255
4 Bedroom	$1,356	$4,520	$54,240	$-10,135

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$64,375

Annual household

2BR Required Salary

$36,160

Under 30% rule

Income Gap

+$28,215

Surplus

Verdict

Affordable

Ratio: 16.9%

The 30% Rule Calculator

Enter your annual salary to see what you can afford in Lake Wilson

Your Annual Salary

Pre-filled with Lake Wilson's median household income

Max monthly rent you can afford$1,609

Studio

$633/mo

1 BR

$750/mo

2 BR

$904/mo

3 BR

$1,103/mo

4 BR

$1,356/mo

Your salary is $0 above the median income in Lake Wilson.

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Lake Wilson

Lake Wilson, Minnesota stands out as one of the more financially accessible housing markets in the state. The median household income of $64,375 significantly exceeds the $36,160 needed to comfortably afford a 2-bedroom at 30% of gross income — leaving a $28,215 annual surplus for savings, debt repayment, or lifestyle spending.

For remote workers or relocators evaluating Lake Wilson, a studio at $633/month offers an even more aggressive savings rate. Even a 3-bedroom at $1,103/month remains accessible for dual-income households earning above $44,120.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $54,240 would position you well — though many residents in Lake Wilson 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 Lake Wilson, Minnesota.

With a total population of 213, the city supports an active civilian workforce of 106 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $36,160 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

106

Active civilian employees in Lake Wilson

Frequently Asked Questions About Renting in Lake Wilson

What salary do I need to live in Lake Wilson, Minnesota?

To afford a 2-bedroom in Lake Wilson under the 30% rule, you need an annual salary of at least $36,160. The median household income in Lake Wilson is $64,375.

Can I afford a 2-bedroom in Lake Wilson on $64,375?

The affordability verdict for Lake Wilson is "Affordable". The rent-to-income ratio is 16.9%, meaning median earners have a $28,215 surplus.

What is the average rent in Lake Wilson compared to median income?

The median gross rent in Lake Wilson is $750/month. With a median household income of $64,375, residents spend approximately 16.9% of their income on rent.

What salary do I need for a studio in Lake Wilson?

A studio in Lake Wilson rents for approximately $633/month. Under the 30% rule, you need an annual salary of $25,320 to afford this.

Is Lake Wilson considered an affordable place to live?

Based on the surplus of $28,215 and an affordability verdict of "Affordable", Lake Wilson is considered a affordable rental market when comparing the required 2-bedroom salary of $36,160 to the local median household income.

How Lake Wilson Compares

Other cities in Minnesota with salary requirements