Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,124$13,488 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Cayuga County, NY
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Cayuga County, NY
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 | $884 | $10,608 | $35,360 | $17.00/hr |
| 1-Bedroom Apartment | $889 | $10,668 | $35,560 | $17.10/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,124 | $13,488 | $44,960 | $21.62/hr |
| 3-Bedroom Home | $1,463 | $17,556 | $58,520 | $28.13/hr |
| 4-Bedroom Home | $1,679 | $20,148 | $67,160 | $32.29/hr |
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Frequently Asked Questions About Rent in Cayuga County, NY
What is the Fair Market Rent for a 2-bedroom in Cayuga County, NY?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Cayuga County, NY is $1,124 per month ($13,488 per year).
What hourly wage is needed to afford rent in Cayuga County, NY?
To comfortably afford a 2-bedroom apartment at $1,124/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $21.62 per hour ($44,960/year).
What are the HUD Fair Market Rents by bedroom count in Cayuga County, NY?
Official 2026 HUD rents in Cayuga County, NY are: Studio: $884/mo, 1-Bedroom: $889/mo, 2-Bedroom: $1,124/mo, 3-Bedroom: $1,463/mo, and 4-Bedroom: $1,679/mo.
How do HUD Fair Market Rents compare to local incomes in Cayuga County, NY?
At the local Census ACS median household income of $67,904/year ($5,659/month), the benchmark 2-bedroom Fair Market Rent represents 19.9% of monthly income.
How is the 30% housing affordability standard calculated in Cayuga County, NY?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,124/month, the required minimum annual gross income is calculated as ($1,124 × 12) ÷ 0.30 = $44,960 per year.