It depends on which T5 transmission you have, as not all of them are the same, as well as a few other things like the height of your tires and finally your style of driving and the terrain that you'll mostly be driving on. Most of the T5 transmissions out of the 1980's 5.0 mustangs had a 3.35 first gear ratio as well as a .68 5th gear ratio, which will effect the rpm differently than a Toploader 4spd will with a 1:1 ratio. Linked below is a transmission ratio rpm calculator that you can play around with to figure out what you'd like, but I'd say anything at or above a 3.50 numerically would be my choice, and again depending on your tire height and so on.
For example, a car with a 3.50 rear gear ratio, a 28" tire height, .68 transmission gear ratio at 2,000rpm will only get you to 70mph. In my opinion that's kind of on the border in terms of the rpm and you'll likely experience some lagging or it's going to feel sluggish. Especially if you're going up a hill or incline and because of that, you'll likely have to downshift into 4th gear to get some more speed/momentum. Now if all of the values above are the same except that you switch out the rear end ratio to a 3.73 rear gear ratio, you'll get up to about 2,150rpm at 70mph. If you went up to a 3.93 rear gear ratio then you'll hit 70mph at 2,250rpm and lastly, if you did a 4.11 rear gear ratio you'll be spinning 2,350rpm at 70mph.
The issue is that the higher you go up in number for the rear gear ratio, aka going from a 3.50 up to a 4.11, that means the quicker you're going to have to shift out of 1st gear and into 2nd gear. Which is why I'm a proponent of getting a T5 and swapping out 1st gear to a 2.95 gear ratio and 5th gear to either a .73 or .80. That way if you go with a numerically larger rear gear ratio, you could stay in 1st gear longer and also not feel like your motor is bogging down on the freeway while in 5th gear, especially if going up a bit of an incline. Most people don't swap out gears though because it starts to get pretty expensive and they'll either live with it or go with a T5z or some other aftermarket T5 that has a lower 1st gear ratio as well as a larger 5th gear ratio. I again don't know what your tire height is, but if you live in an area with a good deal of hills or inclines then I'd maybe get something in the 3.50 - 3.73 range to where you can still use both 1st and 5th gear. If you have really steep hills, maybe something higher like a 3.93 or change up the 5th gear.
Use the Spicer Transmission Ratio RPM Calculator to determine your engine’s RPM based on the transmission gear ratio, tire height, MPH, and ring and pinion gear ratio.
spicerparts.com