Affordable

What Salary Do You Need to Live in Steele?

To afford a 2-bedroom in Steele, you need to earn at least $36,240/year based on estimated fair market rent data. The median household income here is $56,563, which means the typical resident is $20,323 above the threshold.

Census ACS Data Pop. 816

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$634	$2,113	$25,360	$-31,203
1 Bedroom	$752	$2,507	$30,080	$-26,483
2 Bedroom BENCHMARK	$906	$3,020	$36,240	$-20,323
3 Bedroom	$1,105	$3,683	$44,200	$-12,363
4 Bedroom	$1,359	$4,530	$54,360	$-2,203

Affordability Breakdown

Where the required salary line crosses above Steele'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

$36,240

Under 30% rule

Income Gap

+$20,323

Surplus

Verdict

Affordable

Ratio: 19.2%

The 30% Rule Calculator

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

Your Annual Salary

Pre-filled with Steele's median household income

Max monthly rent you can afford$1,414

Studio

$634/mo

1 BR

$752/mo

2 BR

$906/mo

3 BR

$1,105/mo

4 BR

$1,359/mo

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

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Steele

Steele, 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 $36,240 needed to comfortably afford a 2-bedroom at 30% of gross income — leaving a $20,323 annual surplus for savings, debt repayment, or lifestyle spending.

For remote workers or relocators evaluating Steele, a studio at $634/month offers an even more aggressive savings rate. Even a 3-bedroom at $1,105/month remains accessible for dual-income households earning above $44,200.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $54,360 would position you well — though many residents in Steele 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 Steele, North Dakota.

With a total population of 816, the city supports an active civilian workforce of 386 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $36,240 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

386

Active civilian employees in Steele

Frequently Asked Questions About Renting in Steele

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

To afford a 2-bedroom in Steele under the 30% rule, you need an annual salary of at least $36,240. The median household income in Steele is $56,563.

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

The affordability verdict for Steele is "Affordable". The rent-to-income ratio is 19.2%, meaning median earners have a $20,323 surplus.

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

The median gross rent in Steele is $752/month. With a median household income of $56,563, residents spend approximately 19.2% of their income on rent.

What salary do I need for a studio in Steele?

A studio in Steele rents for approximately $634/month. Under the 30% rule, you need an annual salary of $25,360 to afford this.

Is Steele considered an affordable place to live?

Based on the surplus of $20,323 and an affordability verdict of "Affordable", Steele is considered a affordable rental market when comparing the required 2-bedroom salary of $36,240 to the local median household income.

How Steele Compares

Other cities in North Dakota with salary requirements