Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,283$15,396 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Chemung County, NY
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Chemung 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 | $949 | $11,388 | $37,960 | $18.25/hr |
| 1-Bedroom Apartment | $978 | $11,736 | $39,120 | $18.81/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,283 | $15,396 | $51,320 | $24.67/hr |
| 3-Bedroom Home | $1,606 | $19,272 | $64,240 | $30.88/hr |
| 4-Bedroom Home | $1,713 | $20,556 | $68,520 | $32.94/hr |
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Frequently Asked Questions About Rent in Chemung County, NY
What is the Fair Market Rent for a 2-bedroom in Chemung County, NY?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Chemung County, NY is $1,283 per month ($15,396 per year).
What hourly wage is needed to afford rent in Chemung County, NY?
To comfortably afford a 2-bedroom apartment at $1,283/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $24.67 per hour ($51,320/year).
What are the HUD Fair Market Rents by bedroom count in Chemung County, NY?
Official 2026 HUD rents in Chemung County, NY are: Studio: $949/mo, 1-Bedroom: $978/mo, 2-Bedroom: $1,283/mo, 3-Bedroom: $1,606/mo, and 4-Bedroom: $1,713/mo.
How do HUD Fair Market Rents compare to local incomes in Chemung County, NY?
At the local Census ACS median household income of $63,716/year ($5,310/month), the benchmark 2-bedroom Fair Market Rent represents 24.2% of monthly income.
How is the 30% housing affordability standard calculated in Chemung County, NY?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,283/month, the required minimum annual gross income is calculated as ($1,283 × 12) ÷ 0.30 = $51,320 per year.