Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,198$14,376 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Cortland County, NY
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Cortland 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 | $954 | $11,448 | $38,160 | $18.35/hr |
| 1-Bedroom Apartment | $960 | $11,520 | $38,400 | $18.46/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,198 | $14,376 | $47,920 | $23.04/hr |
| 3-Bedroom Home | $1,510 | $18,120 | $60,400 | $29.04/hr |
| 4-Bedroom Home | $2,010 | $24,120 | $80,400 | $38.65/hr |
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Frequently Asked Questions About Rent in Cortland County, NY
What is the Fair Market Rent for a 2-bedroom in Cortland County, NY?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Cortland County, NY is $1,198 per month ($14,376 per year).
What hourly wage is needed to afford rent in Cortland County, NY?
To comfortably afford a 2-bedroom apartment at $1,198/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $23.04 per hour ($47,920/year).
What are the HUD Fair Market Rents by bedroom count in Cortland County, NY?
Official 2026 HUD rents in Cortland County, NY are: Studio: $954/mo, 1-Bedroom: $960/mo, 2-Bedroom: $1,198/mo, 3-Bedroom: $1,510/mo, and 4-Bedroom: $2,010/mo.
How do HUD Fair Market Rents compare to local incomes in Cortland County, NY?
At the local Census ACS median household income of $70,418/year ($5,868/month), the benchmark 2-bedroom Fair Market Rent represents 20.4% of monthly income.
How is the 30% housing affordability standard calculated in Cortland County, NY?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,198/month, the required minimum annual gross income is calculated as ($1,198 × 12) ÷ 0.30 = $47,920 per year.