Affordable

What Salary Do You Need to Live in Palermo?

To afford a 2-bedroom in Palermo, you need to earn at least $37,960/year based on estimated fair market rent data. The median household income here is $64,375, which means the typical resident is $26,415 above the threshold.

Census ACS Data Pop. 131

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$664	$2,213	$26,560	$-37,815
1 Bedroom	$788	$2,627	$31,520	$-32,855
2 Bedroom BENCHMARK	$949	$3,163	$37,960	$-26,415
3 Bedroom	$1,158	$3,860	$46,320	$-18,055
4 Bedroom	$1,424	$4,747	$56,960	$-7,415

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$64,375

Annual household

2BR Required Salary

$37,960

Under 30% rule

Income Gap

+$26,415

Surplus

Verdict

Affordable

Ratio: 17.7%

The 30% Rule Calculator

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

Your Annual Salary

Pre-filled with Palermo's median household income

Max monthly rent you can afford$1,609

Studio

$664/mo

1 BR

$788/mo

2 BR

$949/mo

3 BR

$1,158/mo

4 BR

$1,424/mo

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

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Palermo

Palermo, North Dakota stands out as one of the more financially accessible housing markets in the state. The median household income of $64,375 significantly exceeds the $37,960 needed to comfortably afford a 2-bedroom at 30% of gross income — leaving a $26,415 annual surplus for savings, debt repayment, or lifestyle spending.

For remote workers or relocators evaluating Palermo, a studio at $664/month offers an even more aggressive savings rate. Even a 3-bedroom at $1,158/month remains accessible for dual-income households earning above $46,320.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $56,940 would position you well — though many residents in Palermo 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 Palermo, North Dakota.

With a total population of 131, the city supports an active civilian workforce of 62 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $37,960 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

Active civilian employees in Palermo

Frequently Asked Questions About Renting in Palermo

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

To afford a 2-bedroom in Palermo under the 30% rule, you need an annual salary of at least $37,960. The median household income in Palermo is $64,375.

Can I afford a 2-bedroom in Palermo on $64,375?

The affordability verdict for Palermo is "Affordable". The rent-to-income ratio is 17.7%, meaning median earners have a $26,415 surplus.

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

The median gross rent in Palermo is $788/month. With a median household income of $64,375, residents spend approximately 17.7% of their income on rent.

What salary do I need for a studio in Palermo?

A studio in Palermo rents for approximately $664/month. Under the 30% rule, you need an annual salary of $26,560 to afford this.

Is Palermo considered an affordable place to live?

Based on the surplus of $26,415 and an affordability verdict of "Affordable", Palermo is considered a affordable rental market when comparing the required 2-bedroom salary of $37,960 to the local median household income.

How Palermo Compares

Other cities in North Dakota with salary requirements