Rental Benchmark Overview
2-Bedroom Benchmark Rent
$904$10,848 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Madison County, KY
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Madison County, KY
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 | $666 | $7,992 | $26,640 | $12.81/hr |
| 1-Bedroom Apartment | $785 | $9,420 | $31,400 | $15.10/hr |
| 2-Bedroom ApartmentStandard Benchmark | $904 | $10,848 | $36,160 | $17.38/hr |
| 3-Bedroom Home | $1,257 | $15,084 | $50,280 | $24.17/hr |
| 4-Bedroom Home | $1,416 | $16,992 | $56,640 | $27.23/hr |
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Frequently Asked Questions About Rent in Madison County, KY
What is the Fair Market Rent for a 2-bedroom in Madison County, KY?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Madison County, KY is $904 per month ($10,848 per year).
What hourly wage is needed to afford rent in Madison County, KY?
To comfortably afford a 2-bedroom apartment at $904/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $17.38 per hour ($36,160/year).
What are the HUD Fair Market Rents by bedroom count in Madison County, KY?
Official 2026 HUD rents in Madison County, KY are: Studio: $666/mo, 1-Bedroom: $785/mo, 2-Bedroom: $904/mo, 3-Bedroom: $1,257/mo, and 4-Bedroom: $1,416/mo.
How do HUD Fair Market Rents compare to local incomes in Madison County, KY?
At the local Census ACS median household income of $63,351/year ($5,279/month), the benchmark 2-bedroom Fair Market Rent represents 17.1% of monthly income.
How is the 30% housing affordability standard calculated in Madison County, KY?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $904/month, the required minimum annual gross income is calculated as ($904 × 12) ÷ 0.30 = $36,160 per year.