How Much Do You Need to Afford Rent in Bates County, MO?
Income needed for the average 2BR rent under the 30% rule
Rent is affordable on the local median income in Bates County, MO
The average 2-bedroom rent ($891/mo) takes 18% of the local median household income ($57,914/yr). That is within the recommended 30% threshold.
| To afford $891/mo rent (30% rule) | You need |
|---|---|
| Annual salary | $35,640 |
| Monthly income | $2,970 |
| Hourly wage (full-time) | $17.13/hr |
| Local median household income | $57,914 |
| Rent as % of that income | 18% |
The 30% rule says housing should cost no more than 30% of gross income. The "housing wage" is the full-time hourly pay (2080 hrs/yr) needed to hit that. Rent is the HUD Fair Market Rent for a 2-bedroom; income is the Census median for the area.