Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,228$14,736 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Otsego County, NY
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Otsego County, NY
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 | $847 | $10,164 | $33,880 | $16.29/hr |
| 1-Bedroom Apartment | $965 | $11,580 | $38,600 | $18.56/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,228 | $14,736 | $49,120 | $23.62/hr |
| 3-Bedroom Home | $1,472 | $17,664 | $58,880 | $28.31/hr |
| 4-Bedroom Home | $1,626 | $19,512 | $65,040 | $31.27/hr |
See comprehensive cost of living profile for Otsego County, NY →
Explore Related Regional Profiles
Connect housing costs with earnings, taxes, and price levels across New York:
Frequently Asked Questions About Rent in Otsego County, NY
What is the Fair Market Rent for a 2-bedroom in Otsego County, NY?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Otsego County, NY is $1,228 per month ($14,736 per year).
What hourly wage is needed to afford rent in Otsego County, NY?
To comfortably afford a 2-bedroom apartment at $1,228/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $23.62 per hour ($49,120/year).
What are the HUD Fair Market Rents by bedroom count in Otsego County, NY?
Official 2026 HUD rents in Otsego County, NY are: Studio: $847/mo, 1-Bedroom: $965/mo, 2-Bedroom: $1,228/mo, 3-Bedroom: $1,472/mo, and 4-Bedroom: $1,626/mo.
How do HUD Fair Market Rents compare to local incomes in Otsego County, NY?
At the local Census ACS median household income of $68,885/year ($5,740/month), the benchmark 2-bedroom Fair Market Rent represents 21.4% of monthly income.
How is the 30% housing affordability standard calculated in Otsego County, NY?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,228/month, the required minimum annual gross income is calculated as ($1,228 × 12) ÷ 0.30 = $49,120 per year.