Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,702$20,424 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Albany, NY
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Albany, NY
Calculations assume standard housing affordability guidelines where shelter costs consume no more than 30% of gross income, based on full-time employment of 2,080 annual working hours.
| Bedroom Type | Monthly Rent | Annual Rent | Min. Annual Income | Hourly Wage (40h/wk) |
|---|---|---|---|---|
| Studio / Efficiency | $1,217 | $14,604 | $48,680 | $23.40/hr |
| 1-Bedroom Apartment | $1,417 | $17,004 | $56,680 | $27.25/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,702 | $20,424 | $68,080 | $32.73/hr |
| 3-Bedroom Home | $2,041 | $24,492 | $81,640 | $39.25/hr |
| 4-Bedroom Home | $2,253 | $27,036 | $90,120 | $43.33/hr |
Explore Related Regional Profiles
Connect housing costs with earnings, taxes, and price levels across New York:
Frequently Asked Questions About Rent in Albany, NY
What is the Fair Market Rent for a 2-bedroom in Albany, NY?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Albany, NY is $1,702 per month ($20,424 per year).
What hourly wage is needed to afford rent in Albany, NY?
To comfortably afford a 2-bedroom apartment at $1,702/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $32.73 per hour ($68,080/year).
What are the HUD Fair Market Rents by bedroom count in Albany, NY?
Official 2026 HUD rents in Albany, NY are: Studio: $1,217/mo, 1-Bedroom: $1,417/mo, 2-Bedroom: $1,702/mo, 3-Bedroom: $2,041/mo, and 4-Bedroom: $2,253/mo.
How do HUD Fair Market Rents compare to local incomes in Albany, NY?
At the local Census ACS median household income of $61,986/year ($5,166/month), the benchmark 2-bedroom Fair Market Rent represents 32.9% of monthly income.
How is the 30% housing affordability standard calculated in Albany, NY?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,702/month, the required minimum annual gross income is calculated as ($1,702 × 12) ÷ 0.30 = $68,080 per year.