Rental Benchmark Overview
2-Bedroom Benchmark Rent
$834$10,008 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Franklin Parish, LA
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Franklin Parish, LA
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 | $601 | $7,212 | $24,040 | $11.56/hr |
| 1-Bedroom Apartment | $698 | $8,376 | $27,920 | $13.42/hr |
| 2-Bedroom ApartmentStandard Benchmark | $834 | $10,008 | $33,360 | $16.04/hr |
| 3-Bedroom Home | $1,067 | $12,804 | $42,680 | $20.52/hr |
| 4-Bedroom Home | $1,249 | $14,988 | $49,960 | $24.02/hr |
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Frequently Asked Questions About Rent in Franklin Parish, LA
What is the Fair Market Rent for a 2-bedroom in Franklin Parish, LA?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Franklin Parish, LA is $834 per month ($10,008 per year).
What hourly wage is needed to afford rent in Franklin Parish, LA?
To comfortably afford a 2-bedroom apartment at $834/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $16.04 per hour ($33,360/year).
What are the HUD Fair Market Rents by bedroom count in Franklin Parish, LA?
Official 2026 HUD rents in Franklin Parish, LA are: Studio: $601/mo, 1-Bedroom: $698/mo, 2-Bedroom: $834/mo, 3-Bedroom: $1,067/mo, and 4-Bedroom: $1,249/mo.
How do HUD Fair Market Rents compare to local incomes in Franklin Parish, LA?
At the local Census ACS median household income of $47,020/year ($3,918/month), the benchmark 2-bedroom Fair Market Rent represents 21.3% of monthly income.
How is the 30% housing affordability standard calculated in Franklin Parish, LA?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $834/month, the required minimum annual gross income is calculated as ($834 × 12) ÷ 0.30 = $33,360 per year.