How Much Do You Need to Afford Rent in Prairie County, MT?
Income needed for the average 2BR rent under the 30% rule
Renters here are cost-burdened in Prairie County, MT
The average 2-bedroom rent ($1,500/mo) takes 40% of the local median household income ($45,192/yr). Above 30% is considered cost-burdened.
| To afford $1,500/mo rent (30% rule) | You need |
|---|---|
| Annual salary | $60,000 |
| Monthly income | $5,000 |
| Hourly wage (full-time) | $28.85/hr |
| Local median household income | $45,192 |
| Rent as % of that income | 40% |
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.