Affordable

What Salary Do You Need to Live in Sherwood?

To afford a 2-bedroom in Sherwood, you need to earn at least $34,920/year based on estimated fair market rent data. The median household income here is $64,375, which means the typical resident is $29,455 above the threshold.

Census ACS Data Pop. 236

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$611	$2,037	$24,440	$-39,935
1 Bedroom	$725	$2,417	$29,000	$-35,375
2 Bedroom BENCHMARK	$873	$2,910	$34,920	$-29,455
3 Bedroom	$1,065	$3,550	$42,600	$-21,775
4 Bedroom	$1,310	$4,367	$52,400	$-11,975

Affordability Breakdown

Where the required salary line crosses above Sherwood'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

$34,920

Under 30% rule

Income Gap

+$29,455

Surplus

Verdict

Affordable

Ratio: 16.3%

The 30% Rule Calculator

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

Your Annual Salary

Pre-filled with Sherwood's median household income

Max monthly rent you can afford$1,609

Studio

$611/mo

1 BR

$725/mo

2 BR

$873/mo

3 BR

$1,065/mo

4 BR

$1,310/mo

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

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Sherwood

Sherwood, 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 $34,920 needed to comfortably afford a 2-bedroom at 30% of gross income — leaving a $29,455 annual surplus for savings, debt repayment, or lifestyle spending.

For remote workers or relocators evaluating Sherwood, a studio at $611/month offers an even more aggressive savings rate. Even a 3-bedroom at $1,065/month remains accessible for dual-income households earning above $42,600.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $52,380 would position you well — though many residents in Sherwood 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 Sherwood, North Dakota.

With a total population of 236, the city supports an active civilian workforce of 96 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $34,920 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 Sherwood

Frequently Asked Questions About Renting in Sherwood

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

To afford a 2-bedroom in Sherwood under the 30% rule, you need an annual salary of at least $34,920. The median household income in Sherwood is $64,375.

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

The affordability verdict for Sherwood is "Affordable". The rent-to-income ratio is 16.3%, meaning median earners have a $29,455 surplus.

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

The median gross rent in Sherwood is $725/month. With a median household income of $64,375, residents spend approximately 16.3% of their income on rent.

What salary do I need for a studio in Sherwood?

A studio in Sherwood rents for approximately $611/month. Under the 30% rule, you need an annual salary of $24,440 to afford this.

Is Sherwood considered an affordable place to live?

Based on the surplus of $29,455 and an affordability verdict of "Affordable", Sherwood is considered a affordable rental market when comparing the required 2-bedroom salary of $34,920 to the local median household income.

How Sherwood Compares

Other cities in North Dakota with salary requirements