Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,501$18,012 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Hancock County, ME
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Hancock County, ME
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 | $1,227 | $14,724 | $49,080 | $23.60/hr |
| 1-Bedroom Apartment | $1,234 | $14,808 | $49,360 | $23.73/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,501 | $18,012 | $60,040 | $28.87/hr |
| 3-Bedroom Home | $2,047 | $24,564 | $81,880 | $39.37/hr |
| 4-Bedroom Home | $2,055 | $24,660 | $82,200 | $39.52/hr |
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Frequently Asked Questions About Rent in Hancock County, ME
What is the Fair Market Rent for a 2-bedroom in Hancock County, ME?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Hancock County, ME is $1,501 per month ($18,012 per year).
What hourly wage is needed to afford rent in Hancock County, ME?
To comfortably afford a 2-bedroom apartment at $1,501/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $28.87 per hour ($60,040/year).
What are the HUD Fair Market Rents by bedroom count in Hancock County, ME?
Official 2026 HUD rents in Hancock County, ME are: Studio: $1,227/mo, 1-Bedroom: $1,234/mo, 2-Bedroom: $1,501/mo, 3-Bedroom: $2,047/mo, and 4-Bedroom: $2,055/mo.
How do HUD Fair Market Rents compare to local incomes in Hancock County, ME?
At the local Census ACS median household income of $72,744/year ($6,062/month), the benchmark 2-bedroom Fair Market Rent represents 24.8% of monthly income.
How is the 30% housing affordability standard calculated in Hancock County, ME?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,501/month, the required minimum annual gross income is calculated as ($1,501 × 12) ÷ 0.30 = $60,040 per year.