Affordable

What Salary Do You Need to Live in Drake?

To afford a 2-bedroom in Drake, you need to earn at least $34,120/year based on estimated fair market rent data. The median household income here is $43,750, which means the typical resident is $9,630 above the threshold.

Census ACS Data Pop. 297

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$597	$1,990	$23,880	$-19,870
1 Bedroom	$708	$2,360	$28,320	$-15,430
2 Bedroom BENCHMARK	$853	$2,843	$34,120	$-9,630
3 Bedroom	$1,041	$3,470	$41,640	$-2,110
4 Bedroom	$1,280	$4,267	$51,200	+$7,450

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$43,750

Annual household

2BR Required Salary

$34,120

Under 30% rule

Income Gap

+$9,630

Surplus

Verdict

Affordable

Ratio: 23.4%

The 30% Rule Calculator

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

Your Annual Salary

Pre-filled with Drake's median household income

Max monthly rent you can afford$1,094

Studio

$597/mo

1 BR

$708/mo

2 BR

$853/mo

3 BR

$1,041/mo

4 BR

$1,280/mo

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

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Drake

Living in Drake is well within reach for most median-income earners. With a $9,630 cushion between what residents earn and what a 2-bedroom requires, households in Drake typically have meaningful financial flexibility after housing costs.

For remote workers or relocators evaluating Drake, a studio at $597/month offers an even more aggressive savings rate. Even a 3-bedroom at $1,041/month remains accessible for dual-income households earning above $41,640.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $51,180 would position you well — though many residents in Drake 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 Drake, North Dakota.

With a total population of 297, the city supports an active civilian workforce of 108 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $34,120 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

108

Active civilian employees in Drake

Frequently Asked Questions About Renting in Drake

What salary do I need to live in Drake, North Dakota?

To afford a 2-bedroom in Drake under the 30% rule, you need an annual salary of at least $34,120. The median household income in Drake is $43,750.

Can I afford a 2-bedroom in Drake on $43,750?

The affordability verdict for Drake is "Affordable". The rent-to-income ratio is 23.4%, meaning median earners have a $9,630 surplus.

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

The median gross rent in Drake is $708/month. With a median household income of $43,750, residents spend approximately 23.4% of their income on rent.

What salary do I need for a studio in Drake?

A studio in Drake rents for approximately $597/month. Under the 30% rule, you need an annual salary of $23,880 to afford this.

Is Drake considered an affordable place to live?

Based on the surplus of $9,630 and an affordability verdict of "Affordable", Drake is considered a affordable rental market when comparing the required 2-bedroom salary of $34,120 to the local median household income.

How Drake Compares

Other cities in North Dakota with salary requirements