Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,203$14,436 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Menard County, IL
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Menard 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 | $829 | $9,948 | $33,160 | $15.94/hr |
| 1-Bedroom Apartment | $970 | $11,640 | $38,800 | $18.65/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,203 | $14,436 | $48,120 | $23.13/hr |
| 3-Bedroom Home | $1,611 | $19,332 | $64,440 | $30.98/hr |
| 4-Bedroom Home | $1,682 | $20,184 | $67,280 | $32.35/hr |
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Frequently Asked Questions About Rent in Menard County, IL
What is the Fair Market Rent for a 2-bedroom in Menard County, IL?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Menard County, IL is $1,203 per month ($14,436 per year).
What hourly wage is needed to afford rent in Menard County, IL?
To comfortably afford a 2-bedroom apartment at $1,203/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $23.13 per hour ($48,120/year).
What are the HUD Fair Market Rents by bedroom count in Menard County, IL?
Official 2026 HUD rents in Menard County, IL are: Studio: $829/mo, 1-Bedroom: $970/mo, 2-Bedroom: $1,203/mo, 3-Bedroom: $1,611/mo, and 4-Bedroom: $1,682/mo.
How do HUD Fair Market Rents compare to local incomes in Menard County, IL?
At the local Census ACS median household income of $82,176/year ($6,848/month), the benchmark 2-bedroom Fair Market Rent represents 17.6% of monthly income.
How is the 30% housing affordability standard calculated in Menard County, IL?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,203/month, the required minimum annual gross income is calculated as ($1,203 × 12) ÷ 0.30 = $48,120 per year.