Affordable

What Salary Do You Need to Live in Faulkton?

To afford a 2-bedroom in Faulkton, you need to earn at least $46,440/year based on estimated fair market rent data. The median household income here is $60,000, which means the typical resident is $13,560 above the threshold.

Census ACS Data Pop. 672

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$813	$2,710	$32,520	$-27,480
1 Bedroom	$964	$3,213	$38,560	$-21,440
2 Bedroom BENCHMARK	$1,161	$3,870	$46,440	$-13,560
3 Bedroom	$1,416	$4,720	$56,640	$-3,360
4 Bedroom	$1,742	$5,807	$69,680	+$9,680

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$60,000

Annual household

2BR Required Salary

$46,440

Under 30% rule

Income Gap

+$13,560

Surplus

Verdict

Affordable

Ratio: 23.2%

The 30% Rule Calculator

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

Your Annual Salary

Pre-filled with Faulkton's median household income

Max monthly rent you can afford$1,500

Studio

$813/mo

1 BR

$964/mo

2 BR

$1,161/mo

3 BR

$1,416/mo

4 BR

$1,742/mo

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

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Faulkton

Living in Faulkton is well within reach for most median-income earners. With a $13,560 cushion between what residents earn and what a 2-bedroom requires, households in Faulkton typically have meaningful financial flexibility after housing costs.

For remote workers or relocators evaluating Faulkton, a studio at $813/month offers an even more aggressive savings rate. Even a 3-bedroom at $1,416/month remains accessible for dual-income households earning above $56,640.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $69,660 would position you well — though many residents in Faulkton 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 Faulkton, South Dakota.

With a total population of 672, the city supports an active civilian workforce of 323 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $46,440 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

323

Active civilian employees in Faulkton

Frequently Asked Questions About Renting in Faulkton

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

To afford a 2-bedroom in Faulkton under the 30% rule, you need an annual salary of at least $46,440. The median household income in Faulkton is $60,000.

Can I afford a 2-bedroom in Faulkton on $60,000?

The affordability verdict for Faulkton is "Affordable". The rent-to-income ratio is 23.2%, meaning median earners have a $13,560 surplus.

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

The median gross rent in Faulkton is $964/month. With a median household income of $60,000, residents spend approximately 23.2% of their income on rent.

What salary do I need for a studio in Faulkton?

A studio in Faulkton rents for approximately $813/month. Under the 30% rule, you need an annual salary of $32,520 to afford this.

Is Faulkton considered an affordable place to live?

Based on the surplus of $13,560 and an affordability verdict of "Affordable", Faulkton is considered a affordable rental market when comparing the required 2-bedroom salary of $46,440 to the local median household income.

How Faulkton Compares

Other cities in South Dakota with salary requirements