Rental Benchmark Overview
2-Bedroom Benchmark Rent
$914$10,968 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Norton city, VA
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Norton city, VA
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 | $692 | $8,304 | $27,680 | $13.31/hr |
| 1-Bedroom Apartment | $697 | $8,364 | $27,880 | $13.40/hr |
| 2-Bedroom ApartmentStandard Benchmark | $914 | $10,968 | $36,560 | $17.58/hr |
| 3-Bedroom Home | $1,205 | $14,460 | $48,200 | $23.17/hr |
| 4-Bedroom Home | $1,429 | $17,148 | $57,160 | $27.48/hr |
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Frequently Asked Questions About Rent in Norton city, VA
What is the Fair Market Rent for a 2-bedroom in Norton city, VA?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Norton city, VA is $914 per month ($10,968 per year).
What hourly wage is needed to afford rent in Norton city, VA?
To comfortably afford a 2-bedroom apartment at $914/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $17.58 per hour ($36,560/year).
What are the HUD Fair Market Rents by bedroom count in Norton city, VA?
Official 2026 HUD rents in Norton city, VA are: Studio: $692/mo, 1-Bedroom: $697/mo, 2-Bedroom: $914/mo, 3-Bedroom: $1,205/mo, and 4-Bedroom: $1,429/mo.
How do HUD Fair Market Rents compare to local incomes in Norton city, VA?
At the local Census ACS median household income of $41,495/year ($3,458/month), the benchmark 2-bedroom Fair Market Rent represents 26.4% of monthly income.
How is the 30% housing affordability standard calculated in Norton city, VA?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $914/month, the required minimum annual gross income is calculated as ($914 × 12) ÷ 0.30 = $36,560 per year.