Affordable

What Salary Do You Need to Live in Stephen?

To afford a 2-bedroom in Stephen, you need to earn at least $44,880/year based on estimated fair market rent data. The median household income here is $65,625, which means the typical resident is $20,745 above the threshold.

Census ACS Data Pop. 552

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$785	$2,617	$31,400	$-34,225
1 Bedroom	$931	$3,103	$37,240	$-28,385
2 Bedroom BENCHMARK	$1,122	$3,740	$44,880	$-20,745
3 Bedroom	$1,369	$4,563	$54,760	$-10,865
4 Bedroom	$1,683	$5,610	$67,320	+$1,695

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$65,625

Annual household

2BR Required Salary

$44,880

Under 30% rule

Income Gap

+$20,745

Surplus

Verdict

Affordable

Ratio: 20.5%

The 30% Rule Calculator

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

Your Annual Salary

Pre-filled with Stephen's median household income

Max monthly rent you can afford$1,641

Studio

$785/mo

1 BR

$931/mo

2 BR

$1,122/mo

3 BR

$1,369/mo

4 BR

$1,683/mo

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

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Stephen

Stephen, Minnesota stands out as one of the more financially accessible housing markets in the state. The median household income of $65,625 significantly exceeds the $44,880 needed to comfortably afford a 2-bedroom at 30% of gross income — leaving a $20,745 annual surplus for savings, debt repayment, or lifestyle spending.

For remote workers or relocators evaluating Stephen, a studio at $785/month offers an even more aggressive savings rate. Even a 3-bedroom at $1,369/month remains accessible for dual-income households earning above $54,760.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $67,320 would position you well — though many residents in Stephen 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 Stephen, Minnesota.

With a total population of 552, the city supports an active civilian workforce of 249 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $44,880 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

249

Active civilian employees in Stephen

Frequently Asked Questions About Renting in Stephen

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

To afford a 2-bedroom in Stephen under the 30% rule, you need an annual salary of at least $44,880. The median household income in Stephen is $65,625.

Can I afford a 2-bedroom in Stephen on $65,625?

The affordability verdict for Stephen is "Affordable". The rent-to-income ratio is 20.5%, meaning median earners have a $20,745 surplus.

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

The median gross rent in Stephen is $931/month. With a median household income of $65,625, residents spend approximately 20.5% of their income on rent.

What salary do I need for a studio in Stephen?

A studio in Stephen rents for approximately $785/month. Under the 30% rule, you need an annual salary of $31,400 to afford this.

Is Stephen considered an affordable place to live?

Based on the surplus of $20,745 and an affordability verdict of "Affordable", Stephen is considered a affordable rental market when comparing the required 2-bedroom salary of $44,880 to the local median household income.

How Stephen Compares

Other cities in Minnesota with salary requirements