Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,072$12,864 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Alger County, MI
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Alger County, MI
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 | $759 | $9,108 | $30,360 | $14.60/hr |
| 1-Bedroom Apartment | $817 | $9,804 | $32,680 | $15.71/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,072 | $12,864 | $42,880 | $20.62/hr |
| 3-Bedroom Home | $1,285 | $15,420 | $51,400 | $24.71/hr |
| 4-Bedroom Home | $1,419 | $17,028 | $56,760 | $27.29/hr |
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Frequently Asked Questions About Rent in Alger County, MI
What is the Fair Market Rent for a 2-bedroom in Alger County, MI?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Alger County, MI is $1,072 per month ($12,864 per year).
What hourly wage is needed to afford rent in Alger County, MI?
To comfortably afford a 2-bedroom apartment at $1,072/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $20.62 per hour ($42,880/year).
What are the HUD Fair Market Rents by bedroom count in Alger County, MI?
Official 2026 HUD rents in Alger County, MI are: Studio: $759/mo, 1-Bedroom: $817/mo, 2-Bedroom: $1,072/mo, 3-Bedroom: $1,285/mo, and 4-Bedroom: $1,419/mo.
How do HUD Fair Market Rents compare to local incomes in Alger County, MI?
At the local Census ACS median household income of $61,286/year ($5,107/month), the benchmark 2-bedroom Fair Market Rent represents 21% of monthly income.
How is the 30% housing affordability standard calculated in Alger County, MI?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,072/month, the required minimum annual gross income is calculated as ($1,072 × 12) ÷ 0.30 = $42,880 per year.