Rental Benchmark Overview
2-Bedroom Benchmark Rent
$944$11,328 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Franklin County, VA
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Franklin County, VA
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 | $771 | $9,252 | $30,840 | $14.83/hr |
| 1-Bedroom Apartment | $861 | $10,332 | $34,440 | $16.56/hr |
| 2-Bedroom ApartmentStandard Benchmark | $944 | $11,328 | $37,760 | $18.15/hr |
| 3-Bedroom Home | $1,313 | $15,756 | $52,520 | $25.25/hr |
| 4-Bedroom Home | $1,584 | $19,008 | $63,360 | $30.46/hr |
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Frequently Asked Questions About Rent in Franklin County, VA
What is the Fair Market Rent for a 2-bedroom in Franklin County, VA?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Franklin County, VA is $944 per month ($11,328 per year).
What hourly wage is needed to afford rent in Franklin County, VA?
To comfortably afford a 2-bedroom apartment at $944/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $18.15 per hour ($37,760/year).
What are the HUD Fair Market Rents by bedroom count in Franklin County, VA?
Official 2026 HUD rents in Franklin County, VA are: Studio: $771/mo, 1-Bedroom: $861/mo, 2-Bedroom: $944/mo, 3-Bedroom: $1,313/mo, and 4-Bedroom: $1,584/mo.
How do HUD Fair Market Rents compare to local incomes in Franklin County, VA?
At the local Census ACS median household income of $68,849/year ($5,737/month), the benchmark 2-bedroom Fair Market Rent represents 16.5% of monthly income.
How is the 30% housing affordability standard calculated in Franklin County, VA?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $944/month, the required minimum annual gross income is calculated as ($944 × 12) ÷ 0.30 = $37,760 per year.