Affordable

What Salary Do You Need to Live in Montrose?

To afford a 2-bedroom in Montrose, you need to earn at least $23,760/year based on estimated fair market rent data. The median household income here is $79,250, which means the typical resident is $55,490 above the threshold.

Census ACS Data Pop. 543

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$416	$1,387	$16,640	$-62,610
1 Bedroom	$493	$1,643	$19,720	$-59,530
2 Bedroom BENCHMARK	$594	$1,980	$23,760	$-55,490
3 Bedroom	$725	$2,417	$29,000	$-50,250
4 Bedroom	$891	$2,970	$35,640	$-43,610

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$79,250

Annual household

2BR Required Salary

$23,760

Under 30% rule

Income Gap

+$55,490

Surplus

Verdict

Affordable

Ratio: 9.0%

The 30% Rule Calculator

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

Your Annual Salary

Pre-filled with Montrose's median household income

Max monthly rent you can afford$1,981

Studio

$416/mo

1 BR

$493/mo

2 BR

$594/mo

3 BR

$725/mo

4 BR

$891/mo

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

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Montrose

Montrose, South Dakota stands out as one of the more financially accessible housing markets in the state. The median household income of $79,250 significantly exceeds the $23,760 needed to comfortably afford a 2-bedroom at 30% of gross income — leaving a $55,490 annual surplus for savings, debt repayment, or lifestyle spending.

For remote workers or relocators evaluating Montrose, a studio at $416/month offers an even more aggressive savings rate. Even a 3-bedroom at $725/month remains accessible for dual-income households earning above $29,000.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $35,640 would position you well — though many residents in Montrose 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 Montrose, South Dakota.

With a total population of 543, the city supports an active civilian workforce of 329 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $23,760 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

329

Active civilian employees in Montrose

Frequently Asked Questions About Renting in Montrose

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

To afford a 2-bedroom in Montrose under the 30% rule, you need an annual salary of at least $23,760. The median household income in Montrose is $79,250.

Can I afford a 2-bedroom in Montrose on $79,250?

The affordability verdict for Montrose is "Affordable". The rent-to-income ratio is 9.0%, meaning median earners have a $55,490 surplus.

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

The median gross rent in Montrose is $493/month. With a median household income of $79,250, residents spend approximately 9.0% of their income on rent.

What salary do I need for a studio in Montrose?

A studio in Montrose rents for approximately $416/month. Under the 30% rule, you need an annual salary of $16,640 to afford this.

Is Montrose considered an affordable place to live?

Based on the surplus of $55,490 and an affordability verdict of "Affordable", Montrose is considered a affordable rental market when comparing the required 2-bedroom salary of $23,760 to the local median household income.

How Montrose Compares

Other cities in South Dakota with salary requirements