Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,246$14,952 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Caroline County, VA
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Caroline 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 | $859 | $10,308 | $34,360 | $16.52/hr |
| 1-Bedroom Apartment | $1,021 | $12,252 | $40,840 | $19.63/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,246 | $14,952 | $49,840 | $23.96/hr |
| 3-Bedroom Home | $1,733 | $20,796 | $69,320 | $33.33/hr |
| 4-Bedroom Home | $2,090 | $25,080 | $83,600 | $40.19/hr |
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Frequently Asked Questions About Rent in Caroline County, VA
What is the Fair Market Rent for a 2-bedroom in Caroline County, VA?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Caroline County, VA is $1,246 per month ($14,952 per year).
What hourly wage is needed to afford rent in Caroline County, VA?
To comfortably afford a 2-bedroom apartment at $1,246/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $23.96 per hour ($49,840/year).
What are the HUD Fair Market Rents by bedroom count in Caroline County, VA?
Official 2026 HUD rents in Caroline County, VA are: Studio: $859/mo, 1-Bedroom: $1,021/mo, 2-Bedroom: $1,246/mo, 3-Bedroom: $1,733/mo, and 4-Bedroom: $2,090/mo.
How do HUD Fair Market Rents compare to local incomes in Caroline County, VA?
At the local Census ACS median household income of $87,407/year ($7,284/month), the benchmark 2-bedroom Fair Market Rent represents 17.1% of monthly income.
How is the 30% housing affordability standard calculated in Caroline County, VA?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,246/month, the required minimum annual gross income is calculated as ($1,246 × 12) ÷ 0.30 = $49,840 per year.