How Much Do You Need to Afford Rent in Buffalo County, SD?
Income needed for the average 2BR rent under the 30% rule
Renters here are cost-burdened in Buffalo County, SD
The average 2-bedroom rent ($1,409/mo) takes 36% of the local median household income ($47,000/yr). Above 30% is considered cost-burdened.
| To afford $1,409/mo rent (30% rule) | You need |
|---|---|
| Annual salary | $56,360 |
| Monthly income | $4,697 |
| Hourly wage (full-time) | $27.10/hr |
| Local median household income | $47,000 |
| Rent as % of that income | 36% |
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.