Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,112$13,344 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Fargo, ND
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Fargo, ND
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 | $768 | $9,216 | $30,720 | $14.77/hr |
| 1-Bedroom Apartment | $917 | $11,004 | $36,680 | $17.63/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,112 | $13,344 | $44,480 | $21.38/hr |
| 3-Bedroom Home | $1,547 | $18,564 | $61,880 | $29.75/hr |
| 4-Bedroom Home | $1,865 | $22,380 | $74,600 | $35.87/hr |
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Frequently Asked Questions About Rent in Fargo, ND
What is the Fair Market Rent for a 2-bedroom in Fargo, ND?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Fargo, ND is $1,112 per month ($13,344 per year).
What hourly wage is needed to afford rent in Fargo, ND?
To comfortably afford a 2-bedroom apartment at $1,112/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $21.38 per hour ($44,480/year).
What are the HUD Fair Market Rents by bedroom count in Fargo, ND?
Official 2026 HUD rents in Fargo, ND are: Studio: $768/mo, 1-Bedroom: $917/mo, 2-Bedroom: $1,112/mo, 3-Bedroom: $1,547/mo, and 4-Bedroom: $1,865/mo.
How do HUD Fair Market Rents compare to local incomes in Fargo, ND?
At the local Census ACS median household income of $66,998/year ($5,583/month), the benchmark 2-bedroom Fair Market Rent represents 19.9% of monthly income.
How is the 30% housing affordability standard calculated in Fargo, ND?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,112/month, the required minimum annual gross income is calculated as ($1,112 × 12) ÷ 0.30 = $44,480 per year.