Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,824$21,888 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Charlottesville, VA
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Charlottesville, 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 | $1,421 | $17,052 | $56,840 | $27.33/hr |
| 1-Bedroom Apartment | $1,602 | $19,224 | $64,080 | $30.81/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,824 | $21,888 | $72,960 | $35.08/hr |
| 3-Bedroom Home | $2,218 | $26,616 | $88,720 | $42.65/hr |
| 4-Bedroom Home | $2,731 | $32,772 | $109,240 | $52.52/hr |
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Frequently Asked Questions About Rent in Charlottesville, VA
What is the Fair Market Rent for a 2-bedroom in Charlottesville, VA?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Charlottesville, VA is $1,824 per month ($21,888 per year).
What hourly wage is needed to afford rent in Charlottesville, VA?
To comfortably afford a 2-bedroom apartment at $1,824/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $35.08 per hour ($72,960/year).
What are the HUD Fair Market Rents by bedroom count in Charlottesville, VA?
Official 2026 HUD rents in Charlottesville, VA are: Studio: $1,421/mo, 1-Bedroom: $1,602/mo, 2-Bedroom: $1,824/mo, 3-Bedroom: $2,218/mo, and 4-Bedroom: $2,731/mo.
How do HUD Fair Market Rents compare to local incomes in Charlottesville, VA?
At the local Census ACS median household income of $74,824/year ($6,235/month), the benchmark 2-bedroom Fair Market Rent represents 29.3% of monthly income.
How is the 30% housing affordability standard calculated in Charlottesville, VA?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,824/month, the required minimum annual gross income is calculated as ($1,824 × 12) ÷ 0.30 = $72,960 per year.