Rental Benchmark Overview
2-Bedroom Benchmark Rent
$988$11,856 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Luce County, MI
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Luce 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 | $699 | $8,388 | $27,960 | $13.44/hr |
| 1-Bedroom Apartment | $753 | $9,036 | $30,120 | $14.48/hr |
| 2-Bedroom ApartmentStandard Benchmark | $988 | $11,856 | $39,520 | $19.00/hr |
| 3-Bedroom Home | $1,185 | $14,220 | $47,400 | $22.79/hr |
| 4-Bedroom Home | $1,353 | $16,236 | $54,120 | $26.02/hr |
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Frequently Asked Questions About Rent in Luce County, MI
What is the Fair Market Rent for a 2-bedroom in Luce County, MI?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Luce County, MI is $988 per month ($11,856 per year).
What hourly wage is needed to afford rent in Luce County, MI?
To comfortably afford a 2-bedroom apartment at $988/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $19.00 per hour ($39,520/year).
What are the HUD Fair Market Rents by bedroom count in Luce County, MI?
Official 2026 HUD rents in Luce County, MI are: Studio: $699/mo, 1-Bedroom: $753/mo, 2-Bedroom: $988/mo, 3-Bedroom: $1,185/mo, and 4-Bedroom: $1,353/mo.
How do HUD Fair Market Rents compare to local incomes in Luce County, MI?
At the local Census ACS median household income of $54,893/year ($4,574/month), the benchmark 2-bedroom Fair Market Rent represents 21.6% of monthly income.
How is the 30% housing affordability standard calculated in Luce County, MI?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $988/month, the required minimum annual gross income is calculated as ($988 × 12) ÷ 0.30 = $39,520 per year.