Rental Benchmark Overview
2-Bedroom Benchmark Rent
$2,328$27,936 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Monmouth County, NJ
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Monmouth County, NJ
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 | $1,676 | $20,112 | $67,040 | $32.23/hr |
| 1-Bedroom Apartment | $1,889 | $22,668 | $75,560 | $36.33/hr |
| 2-Bedroom ApartmentStandard Benchmark | $2,328 | $27,936 | $93,120 | $44.77/hr |
| 3-Bedroom Home | $3,043 | $36,516 | $121,720 | $58.52/hr |
| 4-Bedroom Home | $3,371 | $40,452 | $134,840 | $64.83/hr |
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Frequently Asked Questions About Rent in Monmouth County, NJ
What is the Fair Market Rent for a 2-bedroom in Monmouth County, NJ?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Monmouth County, NJ is $2,328 per month ($27,936 per year).
What hourly wage is needed to afford rent in Monmouth County, NJ?
To comfortably afford a 2-bedroom apartment at $2,328/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $44.77 per hour ($93,120/year).
What are the HUD Fair Market Rents by bedroom count in Monmouth County, NJ?
Official 2026 HUD rents in Monmouth County, NJ are: Studio: $1,676/mo, 1-Bedroom: $1,889/mo, 2-Bedroom: $2,328/mo, 3-Bedroom: $3,043/mo, and 4-Bedroom: $3,371/mo.
How do HUD Fair Market Rents compare to local incomes in Monmouth County, NJ?
At the local Census ACS median household income of $124,845/year ($10,404/month), the benchmark 2-bedroom Fair Market Rent represents 22.4% of monthly income.
How is the 30% housing affordability standard calculated in Monmouth County, NJ?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $2,328/month, the required minimum annual gross income is calculated as ($2,328 × 12) ÷ 0.30 = $93,120 per year.