Key Economic Benchmarks
Median Household Income
$78,937$6,578 per month · U.S. Census Bureau ACS 5-YearFair market rent & 30% rule in Bedford County, VA
Official HUD Fair Market Rents evaluated against local household income benchmarks.
2026 HUD Fair Market Rent Schedule: Bedford County, VA
Official FY2026 HUD Fair Market Rents for Lynchburg, VA MSA. Under the federal 30% housing affordability standard, housing costs are sustainable when they consume 30% or less of gross household income.
| Unit Size | Monthly Rent | Annual Rent | 30% Rule Min. Income | % of Median Income |
|---|---|---|---|---|
| Studio / Efficiency | $1,027 | $12,324 | $41,080 | 15.6% |
| 1-Bedroom Apartment | $1,033 | $12,396 | $41,320 | 15.7% |
| 2-Bedroom ApartmentBenchmark | $1,187 | $14,244 | $47,480 | 18% |
| 3-Bedroom Home | $1,635 | $19,620 | $65,400 | 24.9% |
| 4-Bedroom Home | $1,750 | $21,000 | $70,000 | 26.6% |
50/30/20 Living Budget in Bedford County, VA
Based on the local median household income of $78,937/year ($6,578/month), here is how a balanced budget allocates expenses:
Take-Home Pay & Tax Explorer in Virginia
Explore net income after federal income tax, FICA, and Virginia state income tax based on the local median baseline.
Related Regional & Financial Profiles
Compare earnings and living costs across Virginia with official federal datasets:
Frequently Asked Questions About Living in Bedford County, VA
What is the median household income in Bedford County, VA?
According to the latest U.S. Census Bureau ACS 5-Year survey, the median household income in Bedford County, VA is $78,937 per year (approximately $6,578 per month).
What is the average rent in Bedford County, VA?
According to HUD Fair Market Rent (FMR) benchmarks for 2026, standard monthly rents in Bedford County, VA are $1,027 for a studio, $1,033 for 1 bedroom, $1,187 for 2 bedrooms, $1,635 for 3 bedrooms, and $1,750 for 4 bedrooms.
How does the cost of living in Bedford County, VA compare to the national average?
Based on the Bureau of Economic Analysis (BEA) Regional Price Parity index, the general price level in Bedford County, VA is 89.4 (10.6% lower than the U.S. national baseline of 100.0).
How much do you need to earn to comfortably afford rent in Bedford County, VA?
Under the standard 30% housing affordability standard, renting a median 2-bedroom home ($1,187/month) in Bedford County, VA requires a minimum gross household income of $47,480 per year ($3,957 per month).
What is a balanced 50/30/20 monthly budget in Bedford County, VA?
For a typical household earning the median income of $78,937/year ($6,578/month) in Bedford County, VA, a balanced 50/30/20 budget allocates $3,289/month to essential needs (rent, utilities, groceries), $1,973/month to discretionary spending, and $1,316/month to savings and debt repayment.
What are typical electricity and utility costs in Bedford County, VA?
Residential electricity rates in Virginia average 17.2¢ per kWh according to the U.S. Energy Information Administration (EIA). For an average home using 900 kWh per month, the estimated electric bill is approximately $155 per month.