Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,497$17,964 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Leelanau County, MI
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Leelanau County, MI
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 | $1,106 | $13,272 | $44,240 | $21.27/hr |
| 1-Bedroom Apartment | $1,366 | $16,392 | $54,640 | $26.27/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,497 | $17,964 | $59,880 | $28.79/hr |
| 3-Bedroom Home | $1,795 | $21,540 | $71,800 | $34.52/hr |
| 4-Bedroom Home | $1,982 | $23,784 | $79,280 | $38.12/hr |
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Frequently Asked Questions About Rent in Leelanau County, MI
What is the Fair Market Rent for a 2-bedroom in Leelanau County, MI?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Leelanau County, MI is $1,497 per month ($17,964 per year).
What hourly wage is needed to afford rent in Leelanau County, MI?
To comfortably afford a 2-bedroom apartment at $1,497/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $28.79 per hour ($59,880/year).
What are the HUD Fair Market Rents by bedroom count in Leelanau County, MI?
Official 2026 HUD rents in Leelanau County, MI are: Studio: $1,106/mo, 1-Bedroom: $1,366/mo, 2-Bedroom: $1,497/mo, 3-Bedroom: $1,795/mo, and 4-Bedroom: $1,982/mo.
How do HUD Fair Market Rents compare to local incomes in Leelanau County, MI?
At the local Census ACS median household income of $99,422/year ($8,285/month), the benchmark 2-bedroom Fair Market Rent represents 18.1% of monthly income.
How is the 30% housing affordability standard calculated in Leelanau County, MI?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,497/month, the required minimum annual gross income is calculated as ($1,497 × 12) ÷ 0.30 = $59,880 per year.