Special Interest
Housing in Steele County
The inside story on rent prices
Steele
Minnesota
United States
$0
$1,000
$2,000
$3,000
$4,000
$5,000
20%
25%
30%
35%
40%
$1,348
$1,235
$1,006
$4,283
$4,162
$3,187
| Median Monthly Rent for 2 Bdrm | |
| Median Renter Household Income | |
| Rent to Income Ratio % |
32%
30%
32%
Source: US Census Bureau - ACS 5 Yr 2023
Almost half of renters in the United States pay 1/3 or more of their monthly income for rent (third column above). Compare that with rent in Steele County and Minnesota in the first two columns. The optimal rent to household income ratio is 25% to 28% or less. When you pay more than 30% of your income towards rent, your ability to pay for food, transportation, health care, education, and savings becomes increasingly difficult.
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How affordable is housing in Steele County?
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