Rental Benchmark Overview
2-Bedroom Benchmark Rent
$2,504$30,048 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Monroe County, FL
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Monroe County, FL
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 | $1,726 | $20,712 | $69,040 | $33.19/hr |
| 1-Bedroom Apartment | $2,211 | $26,532 | $88,440 | $42.52/hr |
| 2-Bedroom ApartmentStandard Benchmark | $2,504 | $30,048 | $100,160 | $48.15/hr |
| 3-Bedroom Home | $3,303 | $39,636 | $132,120 | $63.52/hr |
| 4-Bedroom Home | $3,315 | $39,780 | $132,600 | $63.75/hr |
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Frequently Asked Questions About Rent in Monroe County, FL
What is the Fair Market Rent for a 2-bedroom in Monroe County, FL?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Monroe County, FL is $2,504 per month ($30,048 per year).
What hourly wage is needed to afford rent in Monroe County, FL?
To comfortably afford a 2-bedroom apartment at $2,504/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $48.15 per hour ($100,160/year).
What are the HUD Fair Market Rents by bedroom count in Monroe County, FL?
Official 2026 HUD rents in Monroe County, FL are: Studio: $1,726/mo, 1-Bedroom: $2,211/mo, 2-Bedroom: $2,504/mo, 3-Bedroom: $3,303/mo, and 4-Bedroom: $3,315/mo.
How do HUD Fair Market Rents compare to local incomes in Monroe County, FL?
At the local Census ACS median household income of $87,738/year ($7,312/month), the benchmark 2-bedroom Fair Market Rent represents 34.2% of monthly income.
How is the 30% housing affordability standard calculated in Monroe County, FL?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $2,504/month, the required minimum annual gross income is calculated as ($2,504 × 12) ÷ 0.30 = $100,160 per year.