How much rent can you afford in Saint Louis Park, MN?
Run your salary against Saint Louis Park's current rent, or find the income you'd need for a target rent. Powered by live RentDataNow medians.
The 30% rent rule, in Saint Louis Park
At a median rent of $1,865/mo, Saint Louis Park is affordable when measured against Minnesota median income of $87,556/yr. Rent would consume roughly 26% of pre-tax income, and a salary of about $74,600 keeps rent at the recommended 30% threshold.
Based on Minnesota median income. Saint Louis Park-specific income data isn't available yet, so state-level medians are used as a proxy.
How Saint Louis Park compares nearby
Median rent for the closest cities with data.
Frequently asked
How much rent can I afford in Saint Louis Park?
On a $87,556 salary (the Minnesota median income), the recommended ceiling is 30% of pre-tax income, or about $2,189/mo. Saint Louis Park's median rent is $1,865/mo. Use the calculator on this page to run your own salary.
What salary do I need to live in Saint Louis Park?
To keep Saint Louis Park's $1,865/mo median rent under 30% of income, you'd need about $74,600/yr. Lower your target share (e.g. 25%) to need more, or raise it (e.g. 40%) to need less.
Is Saint Louis Park affordable on the median Minnesota income?
Saint Louis Park is affordable on a $87,556 income. Rent would take 26% of pre-tax pay, inside the recommended 30% threshold.
What's the 30% rent rule?
The 30% rule is a long-standing budgeting guideline that keeps rent at or below 30% of gross (pre-tax) income. It leaves enough room for utilities, transit, savings, and debt service. In high-cost markets, many renters exceed 30%, and the Census Bureau classifies households paying more than 30% of income on rent as "cost-burdened".