Affordable

What Salary Do You Need to Live in New Franklin?

To afford a 2-bedroom in New Franklin, you need to earn at least $38,680/year based on estimated fair market rent data. The median household income here is $47,768, which means the typical resident is $9,088 above the threshold.

Census ACS Data Pop. 1,057

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$677	$2,257	$27,080	$-20,688
1 Bedroom	$803	$2,677	$32,120	$-15,648
2 Bedroom BENCHMARK	$967	$3,223	$38,680	$-9,088
3 Bedroom	$1,180	$3,933	$47,200	$-568
4 Bedroom	$1,451	$4,837	$58,040	+$10,272

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$47,768

Annual household

2BR Required Salary

$38,680

Under 30% rule

Income Gap

+$9,088

Surplus

Verdict

Affordable

Ratio: 24.3%

The 30% Rule Calculator

Enter your annual salary to see what you can afford in New Franklin

Your Annual Salary

Pre-filled with New Franklin's median household income

Max monthly rent you can afford$1,194

Studio

$677/mo

1 BR

$803/mo

2 BR

$967/mo

3 BR

$1,180/mo

4 BR

$1,451/mo

Your salary is $0 above the median income in New Franklin.

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to New Franklin

Living in New Franklin is well within reach for most median-income earners. With a $9,088 cushion between what residents earn and what a 2-bedroom requires, households in New Franklin typically have meaningful financial flexibility after housing costs.

For remote workers or relocators evaluating New Franklin, a studio at $677/month offers an even more aggressive savings rate. Even a 3-bedroom at $1,180/month remains accessible for dual-income households earning above $47,200.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $58,020 would position you well — though many residents in New Franklin 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 New Franklin, Missouri.

With a total population of 1,057, the city supports an active civilian workforce of 436 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $38,680 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

436

Active civilian employees in New Franklin

Frequently Asked Questions About Renting in New Franklin

What salary do I need to live in New Franklin, Missouri?

To afford a 2-bedroom in New Franklin under the 30% rule, you need an annual salary of at least $38,680. The median household income in New Franklin is $47,768.

Can I afford a 2-bedroom in New Franklin on $47,768?

The affordability verdict for New Franklin is "Affordable". The rent-to-income ratio is 24.3%, meaning median earners have a $9,088 surplus.

What is the average rent in New Franklin compared to median income?

The median gross rent in New Franklin is $803/month. With a median household income of $47,768, residents spend approximately 24.3% of their income on rent.

What salary do I need for a studio in New Franklin?

A studio in New Franklin rents for approximately $677/month. Under the 30% rule, you need an annual salary of $27,080 to afford this.

Is New Franklin considered an affordable place to live?

Based on the surplus of $9,088 and an affordability verdict of "Affordable", New Franklin is considered a affordable rental market when comparing the required 2-bedroom salary of $38,680 to the local median household income.

How New Franklin Compares

Other cities in Missouri with salary requirements