Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,160$13,920 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Boone County, MO
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Boone County, MO
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 | $800 | $9,600 | $32,000 | $15.38/hr |
| 1-Bedroom Apartment | $1,011 | $12,132 | $40,440 | $19.44/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,160 | $13,920 | $46,400 | $22.31/hr |
| 3-Bedroom Home | $1,573 | $18,876 | $62,920 | $30.25/hr |
| 4-Bedroom Home | $1,861 | $22,332 | $74,440 | $35.79/hr |
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Frequently Asked Questions About Rent in Boone County, MO
What is the Fair Market Rent for a 2-bedroom in Boone County, MO?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Boone County, MO is $1,160 per month ($13,920 per year).
What hourly wage is needed to afford rent in Boone County, MO?
To comfortably afford a 2-bedroom apartment at $1,160/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $22.31 per hour ($46,400/year).
What are the HUD Fair Market Rents by bedroom count in Boone County, MO?
Official 2026 HUD rents in Boone County, MO are: Studio: $800/mo, 1-Bedroom: $1,011/mo, 2-Bedroom: $1,160/mo, 3-Bedroom: $1,573/mo, and 4-Bedroom: $1,861/mo.
How do HUD Fair Market Rents compare to local incomes in Boone County, MO?
At the local Census ACS median household income of $72,758/year ($6,063/month), the benchmark 2-bedroom Fair Market Rent represents 19.1% of monthly income.
How is the 30% housing affordability standard calculated in Boone County, MO?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,160/month, the required minimum annual gross income is calculated as ($1,160 × 12) ÷ 0.30 = $46,400 per year.