Affordable

What Salary Do You Need to Live in Goodwin?

To afford a 2-bedroom in Goodwin, you need to earn at least $26,520/year based on estimated fair market rent data. The median household income here is $60,568, which means the typical resident is $34,048 above the threshold.

Census ACS Data Pop. 92

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$464	$1,547	$18,560	$-42,008
1 Bedroom	$550	$1,833	$22,000	$-38,568
2 Bedroom BENCHMARK	$663	$2,210	$26,520	$-34,048
3 Bedroom	$809	$2,697	$32,360	$-28,208
4 Bedroom	$995	$3,317	$39,800	$-20,768

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$60,568

Annual household

2BR Required Salary

$26,520

Under 30% rule

Income Gap

+$34,048

Surplus

Verdict

Affordable

Ratio: 13.1%

The 30% Rule Calculator

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

Your Annual Salary

Pre-filled with Goodwin's median household income

Max monthly rent you can afford$1,514

Studio

$464/mo

1 BR

$550/mo

2 BR

$663/mo

3 BR

$809/mo

4 BR

$995/mo

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

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Goodwin

Goodwin, South Dakota stands out as one of the more financially accessible housing markets in the state. The median household income of $60,568 significantly exceeds the $26,520 needed to comfortably afford a 2-bedroom at 30% of gross income — leaving a $34,048 annual surplus for savings, debt repayment, or lifestyle spending.

For remote workers or relocators evaluating Goodwin, a studio at $464/month offers an even more aggressive savings rate. Even a 3-bedroom at $809/month remains accessible for dual-income households earning above $32,360.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $39,780 would position you well — though many residents in Goodwin 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 Goodwin, South Dakota.

With a total population of 92, the city supports an active civilian workforce of 40 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $26,520 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 Goodwin

Frequently Asked Questions About Renting in Goodwin

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

To afford a 2-bedroom in Goodwin under the 30% rule, you need an annual salary of at least $26,520. The median household income in Goodwin is $60,568.

Can I afford a 2-bedroom in Goodwin on $60,568?

The affordability verdict for Goodwin is "Affordable". The rent-to-income ratio is 13.1%, meaning median earners have a $34,048 surplus.

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

The median gross rent in Goodwin is $550/month. With a median household income of $60,568, residents spend approximately 13.1% of their income on rent.

What salary do I need for a studio in Goodwin?

A studio in Goodwin rents for approximately $464/month. Under the 30% rule, you need an annual salary of $18,560 to afford this.

Is Goodwin considered an affordable place to live?

Based on the surplus of $34,048 and an affordability verdict of "Affordable", Goodwin is considered a affordable rental market when comparing the required 2-bedroom salary of $26,520 to the local median household income.

How Goodwin Compares

Other cities in South Dakota with salary requirements