Affordable

What Salary Do You Need to Live in Loretto?

To afford a 2-bedroom in Loretto, you need to earn at least $32,720/year based on estimated fair market rent data. The median household income here is $49,323, which means the typical resident is $16,603 above the threshold.

Census ACS Data Pop. 1,811

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$573	$1,910	$22,920	$-26,403
1 Bedroom	$679	$2,263	$27,160	$-22,163
2 Bedroom BENCHMARK	$818	$2,727	$32,720	$-16,603
3 Bedroom	$998	$3,327	$39,920	$-9,403
4 Bedroom	$1,227	$4,090	$49,080	$-243

Affordability Breakdown

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

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$49,323

Annual household

2BR Required Salary

$32,720

Under 30% rule

Income Gap

+$16,603

Surplus

Verdict

Affordable

Ratio: 19.9%

The 30% Rule Calculator

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

Your Annual Salary

Pre-filled with Loretto's median household income

Max monthly rent you can afford$1,233

Studio

$573/mo

1 BR

$679/mo

2 BR

$818/mo

3 BR

$998/mo

4 BR

$1,227/mo

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

Salary Comparison by Bedroom

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

Affordable Above Median Median Income

What This Means If You're Moving to Loretto

Living in Loretto is well within reach for most median-income earners. With a $16,603 cushion between what residents earn and what a 2-bedroom requires, households in Loretto typically have meaningful financial flexibility after housing costs.

For remote workers or relocators evaluating Loretto, a studio at $573/month offers an even more aggressive savings rate. Even a 3-bedroom at $998/month remains accessible for dual-income households earning above $39,920.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $49,080 would position you well — though many residents in Loretto 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 Loretto, Tennessee.

With a total population of 1,811, the city supports an active civilian workforce of 766 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $32,720 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

766

Active civilian employees in Loretto

Frequently Asked Questions About Renting in Loretto

What salary do I need to live in Loretto, Tennessee?

To afford a 2-bedroom in Loretto under the 30% rule, you need an annual salary of at least $32,720. The median household income in Loretto is $49,323.

Can I afford a 2-bedroom in Loretto on $49,323?

The affordability verdict for Loretto is "Affordable". The rent-to-income ratio is 19.9%, meaning median earners have a $16,603 surplus.

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

The median gross rent in Loretto is $679/month. With a median household income of $49,323, residents spend approximately 19.9% of their income on rent.

What salary do I need for a studio in Loretto?

A studio in Loretto rents for approximately $573/month. Under the 30% rule, you need an annual salary of $22,920 to afford this.

Is Loretto considered an affordable place to live?

Based on the surplus of $16,603 and an affordability verdict of "Affordable", Loretto is considered a affordable rental market when comparing the required 2-bedroom salary of $32,720 to the local median household income.

How Loretto Compares

Other cities in Tennessee with salary requirements