Rental Benchmark Overview
2-Bedroom Benchmark Rent
$973$11,676 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Allegany County, MD
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Allegany County, MD
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 | $694 | $8,328 | $27,760 | $13.35/hr |
| 1-Bedroom Apartment | $823 | $9,876 | $32,920 | $15.83/hr |
| 2-Bedroom ApartmentStandard Benchmark | $973 | $11,676 | $38,920 | $18.71/hr |
| 3-Bedroom Home | $1,333 | $15,996 | $53,320 | $25.63/hr |
| 4-Bedroom Home | $1,452 | $17,424 | $58,080 | $27.92/hr |
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Frequently Asked Questions About Rent in Allegany County, MD
What is the Fair Market Rent for a 2-bedroom in Allegany County, MD?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Allegany County, MD is $973 per month ($11,676 per year).
What hourly wage is needed to afford rent in Allegany County, MD?
To comfortably afford a 2-bedroom apartment at $973/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $18.71 per hour ($38,920/year).
What are the HUD Fair Market Rents by bedroom count in Allegany County, MD?
Official 2026 HUD rents in Allegany County, MD are: Studio: $694/mo, 1-Bedroom: $823/mo, 2-Bedroom: $973/mo, 3-Bedroom: $1,333/mo, and 4-Bedroom: $1,452/mo.
How do HUD Fair Market Rents compare to local incomes in Allegany County, MD?
At the local Census ACS median household income of $59,603/year ($4,967/month), the benchmark 2-bedroom Fair Market Rent represents 19.6% of monthly income.
How is the 30% housing affordability standard calculated in Allegany County, MD?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $973/month, the required minimum annual gross income is calculated as ($973 × 12) ÷ 0.30 = $38,920 per year.