Rental Benchmark Overview
2-Bedroom Benchmark Rent
$914$10,968 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Buchanan County, VA
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Buchanan 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 | $792 | $9,504 | $31,680 | $15.23/hr |
| 1-Bedroom Apartment | $834 | $10,008 | $33,360 | $16.04/hr |
| 2-Bedroom ApartmentStandard Benchmark | $914 | $10,968 | $36,560 | $17.58/hr |
| 3-Bedroom Home | $1,271 | $15,252 | $50,840 | $24.44/hr |
| 4-Bedroom Home | $1,494 | $17,928 | $59,760 | $28.73/hr |
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Frequently Asked Questions About Rent in Buchanan County, VA
What is the Fair Market Rent for a 2-bedroom in Buchanan County, VA?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Buchanan County, VA is $914 per month ($10,968 per year).
What hourly wage is needed to afford rent in Buchanan County, VA?
To comfortably afford a 2-bedroom apartment at $914/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $17.58 per hour ($36,560/year).
What are the HUD Fair Market Rents by bedroom count in Buchanan County, VA?
Official 2026 HUD rents in Buchanan County, VA are: Studio: $792/mo, 1-Bedroom: $834/mo, 2-Bedroom: $914/mo, 3-Bedroom: $1,271/mo, and 4-Bedroom: $1,494/mo.
How do HUD Fair Market Rents compare to local incomes in Buchanan County, VA?
At the local Census ACS median household income of $42,886/year ($3,574/month), the benchmark 2-bedroom Fair Market Rent represents 25.6% of monthly income.
How is the 30% housing affordability standard calculated in Buchanan County, VA?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $914/month, the required minimum annual gross income is calculated as ($914 × 12) ÷ 0.30 = $36,560 per year.