Affordable

What Salary Do You Need to Live in Castlewood?

To afford a 2-bedroom in Castlewood, you need to earn at least $40,160/year based on estimated fair market rent data. The median household income here is $78,750, which means the typical resident is $38,590 above the threshold.

Census ACS Data Pop. 690

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$703	$2,343	$28,120	$-50,630
1 Bedroom	$833	$2,777	$33,320	$-45,430
2 Bedroom BENCHMARK	$1,004	$3,347	$40,160	$-38,590
3 Bedroom	$1,225	$4,083	$49,000	$-29,750
4 Bedroom	$1,506	$5,020	$60,240	$-18,510

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$78,750

Annual household

2BR Required Salary

$40,160

Under 30% rule

Income Gap

+$38,590

Surplus

Verdict

Affordable

Ratio: 15.3%

The 30% Rule Calculator

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

Your Annual Salary

Pre-filled with Castlewood's median household income

Max monthly rent you can afford$1,969

Studio

$703/mo

1 BR

$833/mo

2 BR

$1,004/mo

3 BR

$1,225/mo

4 BR

$1,506/mo

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

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Castlewood

Castlewood, South Dakota stands out as one of the more financially accessible housing markets in the state. The median household income of $78,750 significantly exceeds the $40,160 needed to comfortably afford a 2-bedroom at 30% of gross income — leaving a $38,590 annual surplus for savings, debt repayment, or lifestyle spending.

For remote workers or relocators evaluating Castlewood, a studio at $703/month offers an even more aggressive savings rate. Even a 3-bedroom at $1,225/month remains accessible for dual-income households earning above $49,000.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $60,240 would position you well — though many residents in Castlewood 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 Castlewood, South Dakota.

With a total population of 690, the city supports an active civilian workforce of 365 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $40,160 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

365

Active civilian employees in Castlewood

Frequently Asked Questions About Renting in Castlewood

What salary do I need to live in Castlewood, South Dakota?

To afford a 2-bedroom in Castlewood under the 30% rule, you need an annual salary of at least $40,160. The median household income in Castlewood is $78,750.

Can I afford a 2-bedroom in Castlewood on $78,750?

The affordability verdict for Castlewood is "Affordable". The rent-to-income ratio is 15.3%, meaning median earners have a $38,590 surplus.

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

The median gross rent in Castlewood is $833/month. With a median household income of $78,750, residents spend approximately 15.3% of their income on rent.

What salary do I need for a studio in Castlewood?

A studio in Castlewood rents for approximately $703/month. Under the 30% rule, you need an annual salary of $28,120 to afford this.

Is Castlewood considered an affordable place to live?

Based on the surplus of $38,590 and an affordability verdict of "Affordable", Castlewood is considered a affordable rental market when comparing the required 2-bedroom salary of $40,160 to the local median household income.

How Castlewood Compares

Other cities in South Dakota with salary requirements