Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,460$17,520 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Orem, UT
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Orem, UT
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 | $1,257 | $15,084 | $50,280 | $24.17/hr |
| 1-Bedroom Apartment | $1,265 | $15,180 | $50,600 | $24.33/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,460 | $17,520 | $58,400 | $28.08/hr |
| 3-Bedroom Home | $2,031 | $24,372 | $81,240 | $39.06/hr |
| 4-Bedroom Home | $2,449 | $29,388 | $97,960 | $47.10/hr |
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Frequently Asked Questions About Rent in Orem, UT
What is the Fair Market Rent for a 2-bedroom in Orem, UT?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Orem, UT is $1,460 per month ($17,520 per year).
What hourly wage is needed to afford rent in Orem, UT?
To comfortably afford a 2-bedroom apartment at $1,460/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $28.08 per hour ($58,400/year).
What are the HUD Fair Market Rents by bedroom count in Orem, UT?
Official 2026 HUD rents in Orem, UT are: Studio: $1,257/mo, 1-Bedroom: $1,265/mo, 2-Bedroom: $1,460/mo, 3-Bedroom: $2,031/mo, and 4-Bedroom: $2,449/mo.
How do HUD Fair Market Rents compare to local incomes in Orem, UT?
At the local Census ACS median household income of $83,342/year ($6,945/month), the benchmark 2-bedroom Fair Market Rent represents 21% of monthly income.
How is the 30% housing affordability standard calculated in Orem, UT?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,460/month, the required minimum annual gross income is calculated as ($1,460 × 12) ÷ 0.30 = $58,400 per year.