Affordable

What Salary Do You Need to Live in Red Wing?

To afford a 2-bedroom in Red Wing, you need to earn at least $43,840/year based on estimated fair market rent data. The median household income here is $65,107, which means the typical resident is $21,267 above the threshold.

Census ACS Data Pop. 16,627

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$767	$2,557	$30,680	$-34,427
1 Bedroom	$910	$3,033	$36,400	$-28,707
2 Bedroom BENCHMARK	$1,096	$3,653	$43,840	$-21,267
3 Bedroom	$1,337	$4,457	$53,480	$-11,627
4 Bedroom	$1,644	$5,480	$65,760	+$653

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$65,107

Annual household

2BR Required Salary

$43,840

Under 30% rule

Income Gap

+$21,267

Surplus

Verdict

Affordable

Ratio: 20.2%

The 30% Rule Calculator

Enter your annual salary to see what you can afford in Red Wing

Your Annual Salary

Pre-filled with Red Wing's median household income

Max monthly rent you can afford$1,628

Studio

$767/mo

1 BR

$910/mo

2 BR

$1,096/mo

3 BR

$1,337/mo

4 BR

$1,644/mo

Your salary is $0 above the median income in Red Wing.

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Red Wing

Red Wing, Minnesota stands out as one of the more financially accessible housing markets in the state. The median household income of $65,107 significantly exceeds the $43,840 needed to comfortably afford a 2-bedroom at 30% of gross income — leaving a $21,267 annual surplus for savings, debt repayment, or lifestyle spending.

For remote workers or relocators evaluating Red Wing, a studio at $767/month offers an even more aggressive savings rate. Even a 3-bedroom at $1,337/month remains accessible for dual-income households earning above $53,480.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $65,760 would position you well — though many residents in Red Wing 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 Red Wing, Minnesota.

With a total population of 16,627, the city supports an active civilian workforce of 7,751 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $43,840 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

7,751

Active civilian employees in Red Wing

Frequently Asked Questions About Renting in Red Wing

What salary do I need to live in Red Wing, Minnesota?

To afford a 2-bedroom in Red Wing under the 30% rule, you need an annual salary of at least $43,840. The median household income in Red Wing is $65,107.

Can I afford a 2-bedroom in Red Wing on $65,107?

The affordability verdict for Red Wing is "Affordable". The rent-to-income ratio is 20.2%, meaning median earners have a $21,267 surplus.

What is the average rent in Red Wing compared to median income?

The median gross rent in Red Wing is $910/month. With a median household income of $65,107, residents spend approximately 20.2% of their income on rent.

What salary do I need for a studio in Red Wing?

A studio in Red Wing rents for approximately $767/month. Under the 30% rule, you need an annual salary of $30,680 to afford this.

Is Red Wing considered an affordable place to live?

Based on the surplus of $21,267 and an affordability verdict of "Affordable", Red Wing is considered a affordable rental market when comparing the required 2-bedroom salary of $43,840 to the local median household income.

How Red Wing Compares

Other cities in Minnesota with salary requirements