Stretched

What Salary Do You Need to Live in Hot Springs?

To afford a 2-bedroom in Hot Springs, you need to earn at least $28,320/year based on estimated fair market rent data. The median household income here is $21,806, which means the typical resident is $6,514 below the threshold.

Census ACS Data Pop. 613

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$496	$1,653	$19,840	$-1,966
1 Bedroom	$588	$1,960	$23,520	+$1,714
2 Bedroom BENCHMARK	$708	$2,360	$28,320	+$6,514
3 Bedroom	$864	$2,880	$34,560	+$12,754
4 Bedroom	$1,062	$3,540	$42,480	+$20,674

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$21,806

Annual household

2BR Required Salary

$28,320

Under 30% rule

Income Gap

-$6,514

Deficit

Verdict

Stretched

Ratio: 39.0%

The 30% Rule Calculator

Enter your annual salary to see what you can afford in Hot Springs

Your Annual Salary

Pre-filled with Hot Springs's median household income

Max monthly rent you can afford$545

Studio

$496/mo

1 BR

$588/mo

2 BR

$708/mo

3 BR

$864/mo

4 BR

$1,062/mo

Your salary is $0 above the median income in Hot Springs.

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Hot Springs

Hot Springs's rental market puts real pressure on median earners. A 2-bedroom at $708/month requires $28,320/year — about $6,514 more than the median household income. Roommates or dual incomes significantly change the equation.

If you're relocating to Hot Springs, target the studio or 1-bedroom tier ($496–$588/month) unless your income exceeds $28,320. A roommate splitting a 2-bedroom effectively halves the individual rent burden to $354/month.

The break-even salary for comfortable living in Hot Springs is approximately $42,480. Below this threshold, expect housing to consume a disproportionate share of your budget, limiting discretionary spending and savings capacity.

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 Hot Springs, Montana.

With a total population of 613, the city supports an active civilian workforce of 181 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $28,320 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

181

Active civilian employees in Hot Springs

Frequently Asked Questions About Renting in Hot Springs

What salary do I need to live in Hot Springs, Montana?

To afford a 2-bedroom in Hot Springs under the 30% rule, you need an annual salary of at least $28,320. The median household income in Hot Springs is $21,806.

Can I afford a 2-bedroom in Hot Springs on $21,806?

The affordability verdict for Hot Springs is "Stretched". The rent-to-income ratio is 39.0%, meaning there's a $6,514 income gap.

What is the average rent in Hot Springs compared to median income?

The median gross rent in Hot Springs is $588/month. With a median household income of $21,806, residents spend approximately 39.0% of their income on rent.

What salary do I need for a studio in Hot Springs?

A studio in Hot Springs rents for approximately $496/month. Under the 30% rule, you need an annual salary of $19,840 to afford this.

Is Hot Springs considered an affordable place to live?

Based on the deficit of $6,514 and an affordability verdict of "Stretched", Hot Springs is considered a stretched rental market when comparing the required 2-bedroom salary of $28,320 to the local median household income.

How Hot Springs Compares

Other cities in Montana with salary requirements