Rental Benchmark Overview
2-Bedroom Benchmark Rent
$939$11,268 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Henry County, IA
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Henry County, IA
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 | $647 | $7,764 | $25,880 | $12.44/hr |
| 1-Bedroom Apartment | $716 | $8,592 | $28,640 | $13.77/hr |
| 2-Bedroom ApartmentStandard Benchmark | $939 | $11,268 | $37,560 | $18.06/hr |
| 3-Bedroom Home | $1,242 | $14,904 | $49,680 | $23.88/hr |
| 4-Bedroom Home | $1,360 | $16,320 | $54,400 | $26.15/hr |
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Frequently Asked Questions About Rent in Henry County, IA
What is the Fair Market Rent for a 2-bedroom in Henry County, IA?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Henry County, IA is $939 per month ($11,268 per year).
What hourly wage is needed to afford rent in Henry County, IA?
To comfortably afford a 2-bedroom apartment at $939/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $18.06 per hour ($37,560/year).
What are the HUD Fair Market Rents by bedroom count in Henry County, IA?
Official 2026 HUD rents in Henry County, IA are: Studio: $647/mo, 1-Bedroom: $716/mo, 2-Bedroom: $939/mo, 3-Bedroom: $1,242/mo, and 4-Bedroom: $1,360/mo.
How do HUD Fair Market Rents compare to local incomes in Henry County, IA?
At the local Census ACS median household income of $67,436/year ($5,620/month), the benchmark 2-bedroom Fair Market Rent represents 16.7% of monthly income.
How is the 30% housing affordability standard calculated in Henry County, IA?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $939/month, the required minimum annual gross income is calculated as ($939 × 12) ÷ 0.30 = $37,560 per year.