Rental Benchmark Overview
2-Bedroom Benchmark Rent
$988$11,856 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Morgan County, TN
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Morgan County, TN
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 | $748 | $8,976 | $29,920 | $14.38/hr |
| 1-Bedroom Apartment | $753 | $9,036 | $30,120 | $14.48/hr |
| 2-Bedroom ApartmentStandard Benchmark | $988 | $11,856 | $39,520 | $19.00/hr |
| 3-Bedroom Home | $1,303 | $15,636 | $52,120 | $25.06/hr |
| 4-Bedroom Home | $1,308 | $15,696 | $52,320 | $25.15/hr |
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Frequently Asked Questions About Rent in Morgan County, TN
What is the Fair Market Rent for a 2-bedroom in Morgan County, TN?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Morgan County, TN is $988 per month ($11,856 per year).
What hourly wage is needed to afford rent in Morgan County, TN?
To comfortably afford a 2-bedroom apartment at $988/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $19.00 per hour ($39,520/year).
What are the HUD Fair Market Rents by bedroom count in Morgan County, TN?
Official 2026 HUD rents in Morgan County, TN are: Studio: $748/mo, 1-Bedroom: $753/mo, 2-Bedroom: $988/mo, 3-Bedroom: $1,303/mo, and 4-Bedroom: $1,308/mo.
How do HUD Fair Market Rents compare to local incomes in Morgan County, TN?
At the local Census ACS median household income of $65,954/year ($5,496/month), the benchmark 2-bedroom Fair Market Rent represents 18% of monthly income.
How is the 30% housing affordability standard calculated in Morgan County, TN?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $988/month, the required minimum annual gross income is calculated as ($988 × 12) ÷ 0.30 = $39,520 per year.