Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,272$15,264 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Fayette County, KY
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Fayette County, KY
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 | $883 | $10,596 | $35,320 | $16.98/hr |
| 1-Bedroom Apartment | $1,079 | $12,948 | $43,160 | $20.75/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,272 | $15,264 | $50,880 | $24.46/hr |
| 3-Bedroom Home | $1,743 | $20,916 | $69,720 | $33.52/hr |
| 4-Bedroom Home | $1,940 | $23,280 | $77,600 | $37.31/hr |
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Frequently Asked Questions About Rent in Fayette County, KY
What is the Fair Market Rent for a 2-bedroom in Fayette County, KY?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Fayette County, KY is $1,272 per month ($15,264 per year).
What hourly wage is needed to afford rent in Fayette County, KY?
To comfortably afford a 2-bedroom apartment at $1,272/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $24.46 per hour ($50,880/year).
What are the HUD Fair Market Rents by bedroom count in Fayette County, KY?
Official 2026 HUD rents in Fayette County, KY are: Studio: $883/mo, 1-Bedroom: $1,079/mo, 2-Bedroom: $1,272/mo, 3-Bedroom: $1,743/mo, and 4-Bedroom: $1,940/mo.
How do HUD Fair Market Rents compare to local incomes in Fayette County, KY?
At the local Census ACS median household income of $69,479/year ($5,790/month), the benchmark 2-bedroom Fair Market Rent represents 22% of monthly income.
How is the 30% housing affordability standard calculated in Fayette County, KY?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,272/month, the required minimum annual gross income is calculated as ($1,272 × 12) ÷ 0.30 = $50,880 per year.