Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,254$15,048 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Botetourt County, VA
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Botetourt County, VA
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 | $1,004 | $12,048 | $40,160 | $19.31/hr |
| 1-Bedroom Apartment | $1,053 | $12,636 | $42,120 | $20.25/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,254 | $15,048 | $50,160 | $24.12/hr |
| 3-Bedroom Home | $1,743 | $20,916 | $69,720 | $33.52/hr |
| 4-Bedroom Home | $2,104 | $25,248 | $84,160 | $40.46/hr |
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Frequently Asked Questions About Rent in Botetourt County, VA
What is the Fair Market Rent for a 2-bedroom in Botetourt County, VA?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Botetourt County, VA is $1,254 per month ($15,048 per year).
What hourly wage is needed to afford rent in Botetourt County, VA?
To comfortably afford a 2-bedroom apartment at $1,254/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $24.12 per hour ($50,160/year).
What are the HUD Fair Market Rents by bedroom count in Botetourt County, VA?
Official 2026 HUD rents in Botetourt County, VA are: Studio: $1,004/mo, 1-Bedroom: $1,053/mo, 2-Bedroom: $1,254/mo, 3-Bedroom: $1,743/mo, and 4-Bedroom: $2,104/mo.
How do HUD Fair Market Rents compare to local incomes in Botetourt County, VA?
At the local Census ACS median household income of $81,213/year ($6,768/month), the benchmark 2-bedroom Fair Market Rent represents 18.5% of monthly income.
How is the 30% housing affordability standard calculated in Botetourt County, VA?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,254/month, the required minimum annual gross income is calculated as ($1,254 × 12) ÷ 0.30 = $50,160 per year.