Rental Benchmark Overview
2-Bedroom Benchmark Rent
$965$11,580 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Coles County, IL
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Coles County, IL
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 | $665 | $7,980 | $26,600 | $12.79/hr |
| 1-Bedroom Apartment | $759 | $9,108 | $30,360 | $14.60/hr |
| 2-Bedroom ApartmentStandard Benchmark | $965 | $11,580 | $38,600 | $18.56/hr |
| 3-Bedroom Home | $1,261 | $15,132 | $50,440 | $24.25/hr |
| 4-Bedroom Home | $1,348 | $16,176 | $53,920 | $25.92/hr |
See comprehensive cost of living profile for Coles County, IL →
Explore Related Regional Profiles
Connect housing costs with earnings, taxes, and price levels across Illinois:
Frequently Asked Questions About Rent in Coles County, IL
What is the Fair Market Rent for a 2-bedroom in Coles County, IL?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Coles County, IL is $965 per month ($11,580 per year).
What hourly wage is needed to afford rent in Coles County, IL?
To comfortably afford a 2-bedroom apartment at $965/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $18.56 per hour ($38,600/year).
What are the HUD Fair Market Rents by bedroom count in Coles County, IL?
Official 2026 HUD rents in Coles County, IL are: Studio: $665/mo, 1-Bedroom: $759/mo, 2-Bedroom: $965/mo, 3-Bedroom: $1,261/mo, and 4-Bedroom: $1,348/mo.
How do HUD Fair Market Rents compare to local incomes in Coles County, IL?
At the local Census ACS median household income of $56,478/year ($4,707/month), the benchmark 2-bedroom Fair Market Rent represents 20.5% of monthly income.
How is the 30% housing affordability standard calculated in Coles County, IL?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $965/month, the required minimum annual gross income is calculated as ($965 × 12) ÷ 0.30 = $38,600 per year.