Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,302$15,624 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in McLean County, IL
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: McLean 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 | $927 | $11,124 | $37,080 | $17.83/hr |
| 1-Bedroom Apartment | $999 | $11,988 | $39,960 | $19.21/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,302 | $15,624 | $52,080 | $25.04/hr |
| 3-Bedroom Home | $1,717 | $20,604 | $68,680 | $33.02/hr |
| 4-Bedroom Home | $1,724 | $20,688 | $68,960 | $33.15/hr |
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Frequently Asked Questions About Rent in McLean County, IL
What is the Fair Market Rent for a 2-bedroom in McLean County, IL?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in McLean County, IL is $1,302 per month ($15,624 per year).
What hourly wage is needed to afford rent in McLean County, IL?
To comfortably afford a 2-bedroom apartment at $1,302/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $25.04 per hour ($52,080/year).
What are the HUD Fair Market Rents by bedroom count in McLean County, IL?
Official 2026 HUD rents in McLean County, IL are: Studio: $927/mo, 1-Bedroom: $999/mo, 2-Bedroom: $1,302/mo, 3-Bedroom: $1,717/mo, and 4-Bedroom: $1,724/mo.
How do HUD Fair Market Rents compare to local incomes in McLean County, IL?
At the local Census ACS median household income of $79,905/year ($6,659/month), the benchmark 2-bedroom Fair Market Rent represents 19.6% of monthly income.
How is the 30% housing affordability standard calculated in McLean County, IL?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,302/month, the required minimum annual gross income is calculated as ($1,302 × 12) ÷ 0.30 = $52,080 per year.