Rental Benchmark Overview
2-Bedroom Benchmark Rent
$951$11,412 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in McDonough County, IL
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: McDonough County, IL
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 | $656 | $7,872 | $26,240 | $12.62/hr |
| 1-Bedroom Apartment | $728 | $8,736 | $29,120 | $14.00/hr |
| 2-Bedroom ApartmentStandard Benchmark | $951 | $11,412 | $38,040 | $18.29/hr |
| 3-Bedroom Home | $1,231 | $14,772 | $49,240 | $23.67/hr |
| 4-Bedroom Home | $1,512 | $18,144 | $60,480 | $29.08/hr |
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Frequently Asked Questions About Rent in McDonough County, IL
What is the Fair Market Rent for a 2-bedroom in McDonough County, IL?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in McDonough County, IL is $951 per month ($11,412 per year).
What hourly wage is needed to afford rent in McDonough County, IL?
To comfortably afford a 2-bedroom apartment at $951/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $18.29 per hour ($38,040/year).
What are the HUD Fair Market Rents by bedroom count in McDonough County, IL?
Official 2026 HUD rents in McDonough County, IL are: Studio: $656/mo, 1-Bedroom: $728/mo, 2-Bedroom: $951/mo, 3-Bedroom: $1,231/mo, and 4-Bedroom: $1,512/mo.
How do HUD Fair Market Rents compare to local incomes in McDonough County, IL?
At the local Census ACS median household income of $52,795/year ($4,400/month), the benchmark 2-bedroom Fair Market Rent represents 21.6% of monthly income.
How is the 30% housing affordability standard calculated in McDonough County, IL?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $951/month, the required minimum annual gross income is calculated as ($951 × 12) ÷ 0.30 = $38,040 per year.