Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,340$16,080 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Iredell County, NC
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Iredell 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 | $1,167 | $14,004 | $46,680 | $22.44/hr |
| 1-Bedroom Apartment | $1,222 | $14,664 | $48,880 | $23.50/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,340 | $16,080 | $53,600 | $25.77/hr |
| 3-Bedroom Home | $1,809 | $21,708 | $72,360 | $34.79/hr |
| 4-Bedroom Home | $2,248 | $26,976 | $89,920 | $43.23/hr |
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Frequently Asked Questions About Rent in Iredell County, NC
What is the Fair Market Rent for a 2-bedroom in Iredell County, NC?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Iredell County, NC is $1,340 per month ($16,080 per year).
What hourly wage is needed to afford rent in Iredell County, NC?
To comfortably afford a 2-bedroom apartment at $1,340/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $25.77 per hour ($53,600/year).
What are the HUD Fair Market Rents by bedroom count in Iredell County, NC?
Official 2026 HUD rents in Iredell County, NC are: Studio: $1,167/mo, 1-Bedroom: $1,222/mo, 2-Bedroom: $1,340/mo, 3-Bedroom: $1,809/mo, and 4-Bedroom: $2,248/mo.
How do HUD Fair Market Rents compare to local incomes in Iredell County, NC?
At the local Census ACS median household income of $81,419/year ($6,785/month), the benchmark 2-bedroom Fair Market Rent represents 19.7% of monthly income.
How is the 30% housing affordability standard calculated in Iredell County, NC?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,340/month, the required minimum annual gross income is calculated as ($1,340 × 12) ÷ 0.30 = $53,600 per year.