Affordable

What Salary Do You Need to Live in St. Louis Park?

To afford a 2-bedroom in St. Louis Park, you need to earn at least $72,480/year based on estimated fair market rent data. The median household income here is $94,263, which means the typical resident is $21,783 above the threshold.

Census ACS Data Pop. 49,500

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$1,268	$4,227	$50,720	$-43,543
1 Bedroom	$1,504	$5,013	$60,160	$-34,103
2 Bedroom BENCHMARK	$1,812	$6,040	$72,480	$-21,783
3 Bedroom	$2,211	$7,370	$88,440	$-5,823
4 Bedroom	$2,718	$9,060	$108,720	+$14,457

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$94,263

Annual household

2BR Required Salary

$72,480

Under 30% rule

Income Gap

+$21,783

Surplus

Verdict

Affordable

Ratio: 23.1%

The 30% Rule Calculator

Enter your annual salary to see what you can afford in St. Louis Park

Your Annual Salary

Pre-filled with St. Louis Park's median household income

Max monthly rent you can afford$2,357

Studio

$1,268/mo

1 BR

$1,504/mo

2 BR

$1,812/mo

3 BR

$2,211/mo

4 BR

$2,718/mo

Your salary is $0 above the median income in St. Louis Park.

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to St. Louis Park

St. Louis Park, Minnesota stands out as one of the more financially accessible housing markets in the state. The median household income of $94,263 significantly exceeds the $72,480 needed to comfortably afford a 2-bedroom at 30% of gross income — leaving a $21,783 annual surplus for savings, debt repayment, or lifestyle spending.

For remote workers or relocators evaluating St. Louis Park, a studio at $1,268/month offers an even more aggressive savings rate. Even a 3-bedroom at $2,211/month remains accessible for dual-income households earning above $88,440.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $108,720 would position you well — though many residents in St. Louis Park 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 St. Louis Park, Minnesota.

With a total population of 49,500, the city supports an active civilian workforce of 30,529 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $72,480 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

30,529

Active civilian employees in St. Louis Park

Frequently Asked Questions About Renting in St. Louis Park

What salary do I need to live in St. Louis Park, Minnesota?

To afford a 2-bedroom in St. Louis Park under the 30% rule, you need an annual salary of at least $72,480. The median household income in St. Louis Park is $94,263.

Can I afford a 2-bedroom in St. Louis Park on $94,263?

The affordability verdict for St. Louis Park is "Affordable". The rent-to-income ratio is 23.1%, meaning median earners have a $21,783 surplus.

What is the average rent in St. Louis Park compared to median income?

The median gross rent in St. Louis Park is $1,504/month. With a median household income of $94,263, residents spend approximately 23.1% of their income on rent.

What salary do I need for a studio in St. Louis Park?

A studio in St. Louis Park rents for approximately $1,268/month. Under the 30% rule, you need an annual salary of $50,720 to afford this.

Is St. Louis Park considered an affordable place to live?

Based on the surplus of $21,783 and an affordability verdict of "Affordable", St. Louis Park is considered a affordable rental market when comparing the required 2-bedroom salary of $72,480 to the local median household income.

How St. Louis Park Compares

Other cities in Minnesota with salary requirements