Affordable

What Salary Do You Need to Live in Hope?

To afford a 2-bedroom in Hope, you need to earn at least $28,800/year based on estimated fair market rent data. The median household income here is $56,563, which means the typical resident is $27,763 above the threshold.

Census ACS Data Pop. 316

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$504	$1,680	$20,160	$-36,403
1 Bedroom	$598	$1,993	$23,920	$-32,643
2 Bedroom BENCHMARK	$720	$2,400	$28,800	$-27,763
3 Bedroom	$878	$2,927	$35,120	$-21,443
4 Bedroom	$1,080	$3,600	$43,200	$-13,363

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$56,563

Annual household

2BR Required Salary

$28,800

Under 30% rule

Income Gap

+$27,763

Surplus

Verdict

Affordable

Ratio: 15.3%

The 30% Rule Calculator

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

Your Annual Salary

Pre-filled with Hope's median household income

Max monthly rent you can afford$1,414

Studio

$504/mo

1 BR

$598/mo

2 BR

$720/mo

3 BR

$878/mo

4 BR

$1,080/mo

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

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Hope

Hope, North Dakota stands out as one of the more financially accessible housing markets in the state. The median household income of $56,563 significantly exceeds the $28,800 needed to comfortably afford a 2-bedroom at 30% of gross income — leaving a $27,763 annual surplus for savings, debt repayment, or lifestyle spending.

For remote workers or relocators evaluating Hope, a studio at $504/month offers an even more aggressive savings rate. Even a 3-bedroom at $878/month remains accessible for dual-income households earning above $35,120.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $43,200 would position you well — though many residents in Hope 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 Hope, North Dakota.

With a total population of 316, the city supports an active civilian workforce of 139 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $28,800 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

139

Active civilian employees in Hope

Frequently Asked Questions About Renting in Hope

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

To afford a 2-bedroom in Hope under the 30% rule, you need an annual salary of at least $28,800. The median household income in Hope is $56,563.

Can I afford a 2-bedroom in Hope on $56,563?

The affordability verdict for Hope is "Affordable". The rent-to-income ratio is 15.3%, meaning median earners have a $27,763 surplus.

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

The median gross rent in Hope is $598/month. With a median household income of $56,563, residents spend approximately 15.3% of their income on rent.

What salary do I need for a studio in Hope?

A studio in Hope rents for approximately $504/month. Under the 30% rule, you need an annual salary of $20,160 to afford this.

Is Hope considered an affordable place to live?

Based on the surplus of $27,763 and an affordability verdict of "Affordable", Hope is considered a affordable rental market when comparing the required 2-bedroom salary of $28,800 to the local median household income.

How Hope Compares

Other cities in North Dakota with salary requirements