Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,326$15,912 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Monroe, MI
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Monroe, MI
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 | $914 | $10,968 | $36,560 | $17.58/hr |
| 1-Bedroom Apartment | $1,011 | $12,132 | $40,440 | $19.44/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,326 | $15,912 | $53,040 | $25.50/hr |
| 3-Bedroom Home | $1,605 | $19,260 | $64,200 | $30.87/hr |
| 4-Bedroom Home | $2,147 | $25,764 | $85,880 | $41.29/hr |
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Frequently Asked Questions About Rent in Monroe, MI
What is the Fair Market Rent for a 2-bedroom in Monroe, MI?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Monroe, MI is $1,326 per month ($15,912 per year).
What hourly wage is needed to afford rent in Monroe, MI?
To comfortably afford a 2-bedroom apartment at $1,326/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $25.50 per hour ($53,040/year).
What are the HUD Fair Market Rents by bedroom count in Monroe, MI?
Official 2026 HUD rents in Monroe, MI are: Studio: $914/mo, 1-Bedroom: $1,011/mo, 2-Bedroom: $1,326/mo, 3-Bedroom: $1,605/mo, and 4-Bedroom: $2,147/mo.
How do HUD Fair Market Rents compare to local incomes in Monroe, MI?
At the local Census ACS median household income of $59,813/year ($4,984/month), the benchmark 2-bedroom Fair Market Rent represents 26.6% of monthly income.
How is the 30% housing affordability standard calculated in Monroe, MI?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,326/month, the required minimum annual gross income is calculated as ($1,326 × 12) ÷ 0.30 = $53,040 per year.