Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,711$20,532 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Chatham County, NC
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Chatham County, NC
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 | $1,417 | $17,004 | $56,680 | $27.25/hr |
| 1-Bedroom Apartment | $1,507 | $18,084 | $60,280 | $28.98/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,711 | $20,532 | $68,440 | $32.90/hr |
| 3-Bedroom Home | $2,117 | $25,404 | $84,680 | $40.71/hr |
| 4-Bedroom Home | $2,527 | $30,324 | $101,080 | $48.60/hr |
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Frequently Asked Questions About Rent in Chatham County, NC
What is the Fair Market Rent for a 2-bedroom in Chatham County, NC?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Chatham County, NC is $1,711 per month ($20,532 per year).
What hourly wage is needed to afford rent in Chatham County, NC?
To comfortably afford a 2-bedroom apartment at $1,711/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $32.90 per hour ($68,440/year).
What are the HUD Fair Market Rents by bedroom count in Chatham County, NC?
Official 2026 HUD rents in Chatham County, NC are: Studio: $1,417/mo, 1-Bedroom: $1,507/mo, 2-Bedroom: $1,711/mo, 3-Bedroom: $2,117/mo, and 4-Bedroom: $2,527/mo.
How do HUD Fair Market Rents compare to local incomes in Chatham County, NC?
At the local Census ACS median household income of $94,317/year ($7,860/month), the benchmark 2-bedroom Fair Market Rent represents 21.8% of monthly income.
How is the 30% housing affordability standard calculated in Chatham County, NC?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,711/month, the required minimum annual gross income is calculated as ($1,711 × 12) ÷ 0.30 = $68,440 per year.