Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,960$23,520 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Olympia, WA
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Olympia, WA
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 | $1,538 | $18,456 | $61,520 | $29.58/hr |
| 1-Bedroom Apartment | $1,682 | $20,184 | $67,280 | $32.35/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,960 | $23,520 | $78,400 | $37.69/hr |
| 3-Bedroom Home | $2,613 | $31,356 | $104,520 | $50.25/hr |
| 4-Bedroom Home | $3,288 | $39,456 | $131,520 | $63.23/hr |
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Frequently Asked Questions About Rent in Olympia, WA
What is the Fair Market Rent for a 2-bedroom in Olympia, WA?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Olympia, WA is $1,960 per month ($23,520 per year).
What hourly wage is needed to afford rent in Olympia, WA?
To comfortably afford a 2-bedroom apartment at $1,960/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $37.69 per hour ($78,400/year).
What are the HUD Fair Market Rents by bedroom count in Olympia, WA?
Official 2026 HUD rents in Olympia, WA are: Studio: $1,538/mo, 1-Bedroom: $1,682/mo, 2-Bedroom: $1,960/mo, 3-Bedroom: $2,613/mo, and 4-Bedroom: $3,288/mo.
How do HUD Fair Market Rents compare to local incomes in Olympia, WA?
At the local Census ACS median household income of $81,302/year ($6,775/month), the benchmark 2-bedroom Fair Market Rent represents 28.9% of monthly income.
How is the 30% housing affordability standard calculated in Olympia, WA?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,960/month, the required minimum annual gross income is calculated as ($1,960 × 12) ÷ 0.30 = $78,400 per year.