Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,709$20,508 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Gates County, NC
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Gates County, NC
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 | $1,489 | $17,868 | $59,560 | $28.63/hr |
| 1-Bedroom Apartment | $1,513 | $18,156 | $60,520 | $29.10/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,709 | $20,508 | $68,360 | $32.87/hr |
| 3-Bedroom Home | $2,364 | $28,368 | $94,560 | $45.46/hr |
| 4-Bedroom Home | $2,794 | $33,528 | $111,760 | $53.73/hr |
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Frequently Asked Questions About Rent in Gates County, NC
What is the Fair Market Rent for a 2-bedroom in Gates County, NC?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Gates County, NC is $1,709 per month ($20,508 per year).
What hourly wage is needed to afford rent in Gates County, NC?
To comfortably afford a 2-bedroom apartment at $1,709/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $32.87 per hour ($68,360/year).
What are the HUD Fair Market Rents by bedroom count in Gates County, NC?
Official 2026 HUD rents in Gates County, NC are: Studio: $1,489/mo, 1-Bedroom: $1,513/mo, 2-Bedroom: $1,709/mo, 3-Bedroom: $2,364/mo, and 4-Bedroom: $2,794/mo.
How do HUD Fair Market Rents compare to local incomes in Gates County, NC?
At the local Census ACS median household income of $66,333/year ($5,528/month), the benchmark 2-bedroom Fair Market Rent represents 30.9% of monthly income.
How is the 30% housing affordability standard calculated in Gates County, NC?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,709/month, the required minimum annual gross income is calculated as ($1,709 × 12) ÷ 0.30 = $68,360 per year.