Affordable

What Salary Do You Need to Live in Perham?

To afford a 2-bedroom in Perham, you need to earn at least $37,920/year based on estimated fair market rent data. The median household income here is $46,509, which means the typical resident is $8,589 above the threshold.

Census ACS Data Pop. 3,524

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$664	$2,213	$26,560	$-19,949
1 Bedroom	$787	$2,623	$31,480	$-15,029
2 Bedroom BENCHMARK	$948	$3,160	$37,920	$-8,589
3 Bedroom	$1,157	$3,857	$46,280	$-229
4 Bedroom	$1,422	$4,740	$56,880	+$10,371

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$46,509

Annual household

2BR Required Salary

$37,920

Under 30% rule

Income Gap

+$8,589

Surplus

Verdict

Affordable

Ratio: 24.5%

The 30% Rule Calculator

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

Your Annual Salary

Pre-filled with Perham's median household income

Max monthly rent you can afford$1,163

Studio

$664/mo

1 BR

$787/mo

2 BR

$948/mo

3 BR

$1,157/mo

4 BR

$1,422/mo

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

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Perham

Living in Perham is well within reach for most median-income earners. With a $8,589 cushion between what residents earn and what a 2-bedroom requires, households in Perham typically have meaningful financial flexibility after housing costs.

For remote workers or relocators evaluating Perham, a studio at $664/month offers an even more aggressive savings rate. Even a 3-bedroom at $1,157/month remains accessible for dual-income households earning above $46,280.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $56,880 would position you well — though many residents in Perham 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 Perham, Minnesota.

With a total population of 3,524, the city supports an active civilian workforce of 1,477 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $37,920 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

1,477

Active civilian employees in Perham

Frequently Asked Questions About Renting in Perham

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

To afford a 2-bedroom in Perham under the 30% rule, you need an annual salary of at least $37,920. The median household income in Perham is $46,509.

Can I afford a 2-bedroom in Perham on $46,509?

The affordability verdict for Perham is "Affordable". The rent-to-income ratio is 24.5%, meaning median earners have a $8,589 surplus.

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

The median gross rent in Perham is $787/month. With a median household income of $46,509, residents spend approximately 24.5% of their income on rent.

What salary do I need for a studio in Perham?

A studio in Perham rents for approximately $664/month. Under the 30% rule, you need an annual salary of $26,560 to afford this.

Is Perham considered an affordable place to live?

Based on the surplus of $8,589 and an affordability verdict of "Affordable", Perham is considered a affordable rental market when comparing the required 2-bedroom salary of $37,920 to the local median household income.

How Perham Compares

Other cities in Minnesota with salary requirements