Rental Benchmark Overview
2-Bedroom Benchmark Rent
$980$11,760 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Franklin County, TN
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Franklin County, TN
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 | $742 | $8,904 | $29,680 | $14.27/hr |
| 1-Bedroom Apartment | $747 | $8,964 | $29,880 | $14.37/hr |
| 2-Bedroom ApartmentStandard Benchmark | $980 | $11,760 | $39,200 | $18.85/hr |
| 3-Bedroom Home | $1,307 | $15,684 | $52,280 | $25.13/hr |
| 4-Bedroom Home | $1,622 | $19,464 | $64,880 | $31.19/hr |
See comprehensive cost of living profile for Franklin County, TN →
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Frequently Asked Questions About Rent in Franklin County, TN
What is the Fair Market Rent for a 2-bedroom in Franklin County, TN?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Franklin County, TN is $980 per month ($11,760 per year).
What hourly wage is needed to afford rent in Franklin County, TN?
To comfortably afford a 2-bedroom apartment at $980/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $18.85 per hour ($39,200/year).
What are the HUD Fair Market Rents by bedroom count in Franklin County, TN?
Official 2026 HUD rents in Franklin County, TN are: Studio: $742/mo, 1-Bedroom: $747/mo, 2-Bedroom: $980/mo, 3-Bedroom: $1,307/mo, and 4-Bedroom: $1,622/mo.
How do HUD Fair Market Rents compare to local incomes in Franklin County, TN?
At the local Census ACS median household income of $63,494/year ($5,291/month), the benchmark 2-bedroom Fair Market Rent represents 18.5% of monthly income.
How is the 30% housing affordability standard calculated in Franklin County, TN?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $980/month, the required minimum annual gross income is calculated as ($980 × 12) ÷ 0.30 = $39,200 per year.