Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,792$21,504 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Cape May County, NJ
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Cape May County, NJ
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 | $1,320 | $15,840 | $52,800 | $25.38/hr |
| 1-Bedroom Apartment | $1,366 | $16,392 | $54,640 | $26.27/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,792 | $21,504 | $71,680 | $34.46/hr |
| 3-Bedroom Home | $2,396 | $28,752 | $95,840 | $46.08/hr |
| 4-Bedroom Home | $2,405 | $28,860 | $96,200 | $46.25/hr |
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Frequently Asked Questions About Rent in Cape May County, NJ
What is the Fair Market Rent for a 2-bedroom in Cape May County, NJ?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Cape May County, NJ is $1,792 per month ($21,504 per year).
What hourly wage is needed to afford rent in Cape May County, NJ?
To comfortably afford a 2-bedroom apartment at $1,792/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $34.46 per hour ($71,680/year).
What are the HUD Fair Market Rents by bedroom count in Cape May County, NJ?
Official 2026 HUD rents in Cape May County, NJ are: Studio: $1,320/mo, 1-Bedroom: $1,366/mo, 2-Bedroom: $1,792/mo, 3-Bedroom: $2,396/mo, and 4-Bedroom: $2,405/mo.
How do HUD Fair Market Rents compare to local incomes in Cape May County, NJ?
At the local Census ACS median household income of $91,128/year ($7,594/month), the benchmark 2-bedroom Fair Market Rent represents 23.6% of monthly income.
How is the 30% housing affordability standard calculated in Cape May County, NJ?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,792/month, the required minimum annual gross income is calculated as ($1,792 × 12) ÷ 0.30 = $71,680 per year.