Affordable

What Salary Do You Need to Live in Chestnut Hill?

To afford a 2-bedroom in Chestnut Hill, you need to earn at least $77,360/year based on estimated fair market rent data. The median household income here is $117,376, which means the typical resident is $40,016 above the threshold.

Census ACS Data Pop. 6,493

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$1,354	$4,513	$54,160	$-63,216
1 Bedroom	$1,605	$5,350	$64,200	$-53,176
2 Bedroom BENCHMARK	$1,934	$6,447	$77,360	$-40,016
3 Bedroom	$2,359	$7,863	$94,360	$-23,016
4 Bedroom	$2,901	$9,670	$116,040	$-1,336

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$117,376

Annual household

2BR Required Salary

$77,360

Under 30% rule

Income Gap

+$40,016

Surplus

Verdict

Affordable

Ratio: 19.8%

The 30% Rule Calculator

Enter your annual salary to see what you can afford in Chestnut Hill

Your Annual Salary

Pre-filled with Chestnut Hill's median household income

Max monthly rent you can afford$2,934

Studio

$1,354/mo

1 BR

$1,605/mo

2 BR

$1,934/mo

3 BR

$2,359/mo

4 BR

$2,901/mo

Your salary is $0 above the median income in Chestnut Hill.

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Chestnut Hill

Chestnut Hill, Pennsylvania stands out as one of the more financially accessible housing markets in the state. The median household income of $117,376 significantly exceeds the $77,360 needed to comfortably afford a 2-bedroom at 30% of gross income — leaving a $40,016 annual surplus for savings, debt repayment, or lifestyle spending.

For remote workers or relocators evaluating Chestnut Hill, a studio at $1,354/month offers an even more aggressive savings rate. Even a 3-bedroom at $2,359/month remains accessible for dual-income households earning above $94,360.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $116,040 would position you well — though many residents in Chestnut Hill 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 Chestnut Hill, Pennsylvania.

With a total population of 6,493, the city supports an active civilian workforce of 3,344 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $77,360 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

3,344

Active civilian employees in Chestnut Hill

Frequently Asked Questions About Renting in Chestnut Hill

What salary do I need to live in Chestnut Hill, Pennsylvania?

To afford a 2-bedroom in Chestnut Hill under the 30% rule, you need an annual salary of at least $77,360. The median household income in Chestnut Hill is $117,376.

Can I afford a 2-bedroom in Chestnut Hill on $117,376?

The affordability verdict for Chestnut Hill is "Affordable". The rent-to-income ratio is 19.8%, meaning median earners have a $40,016 surplus.

What is the average rent in Chestnut Hill compared to median income?

The median gross rent in Chestnut Hill is $1,605/month. With a median household income of $117,376, residents spend approximately 19.8% of their income on rent.

What salary do I need for a studio in Chestnut Hill?

A studio in Chestnut Hill rents for approximately $1,354/month. Under the 30% rule, you need an annual salary of $54,160 to afford this.

Is Chestnut Hill considered an affordable place to live?

Based on the surplus of $40,016 and an affordability verdict of "Affordable", Chestnut Hill is considered a affordable rental market when comparing the required 2-bedroom salary of $77,360 to the local median household income.

How Chestnut Hill Compares

Other cities in Pennsylvania with salary requirements