Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,016$12,192 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Hancock County, KY
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Hancock 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 | $769 | $9,228 | $30,760 | $14.79/hr |
| 1-Bedroom Apartment | $774 | $9,288 | $30,960 | $14.88/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,016 | $12,192 | $40,640 | $19.54/hr |
| 3-Bedroom Home | $1,345 | $16,140 | $53,800 | $25.87/hr |
| 4-Bedroom Home | $1,347 | $16,164 | $53,880 | $25.90/hr |
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Frequently Asked Questions About Rent in Hancock County, KY
What is the Fair Market Rent for a 2-bedroom in Hancock County, KY?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Hancock County, KY is $1,016 per month ($12,192 per year).
What hourly wage is needed to afford rent in Hancock County, KY?
To comfortably afford a 2-bedroom apartment at $1,016/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $19.54 per hour ($40,640/year).
What are the HUD Fair Market Rents by bedroom count in Hancock County, KY?
Official 2026 HUD rents in Hancock County, KY are: Studio: $769/mo, 1-Bedroom: $774/mo, 2-Bedroom: $1,016/mo, 3-Bedroom: $1,345/mo, and 4-Bedroom: $1,347/mo.
How do HUD Fair Market Rents compare to local incomes in Hancock County, KY?
At the local Census ACS median household income of $65,464/year ($5,455/month), the benchmark 2-bedroom Fair Market Rent represents 18.6% of monthly income.
How is the 30% housing affordability standard calculated in Hancock County, KY?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,016/month, the required minimum annual gross income is calculated as ($1,016 × 12) ÷ 0.30 = $40,640 per year.