Rental Benchmark Overview
2-Bedroom Benchmark Rent
$995$11,940 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Owen County, KY
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Owen County, KY
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 | $711 | $8,532 | $28,440 | $13.67/hr |
| 1-Bedroom Apartment | $758 | $9,096 | $30,320 | $14.58/hr |
| 2-Bedroom ApartmentStandard Benchmark | $995 | $11,940 | $39,800 | $19.13/hr |
| 3-Bedroom Home | $1,329 | $15,948 | $53,160 | $25.56/hr |
| 4-Bedroom Home | $1,389 | $16,668 | $55,560 | $26.71/hr |
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Frequently Asked Questions About Rent in Owen County, KY
What is the Fair Market Rent for a 2-bedroom in Owen County, KY?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Owen County, KY is $995 per month ($11,940 per year).
What hourly wage is needed to afford rent in Owen County, KY?
To comfortably afford a 2-bedroom apartment at $995/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $19.13 per hour ($39,800/year).
What are the HUD Fair Market Rents by bedroom count in Owen County, KY?
Official 2026 HUD rents in Owen County, KY are: Studio: $711/mo, 1-Bedroom: $758/mo, 2-Bedroom: $995/mo, 3-Bedroom: $1,329/mo, and 4-Bedroom: $1,389/mo.
How do HUD Fair Market Rents compare to local incomes in Owen County, KY?
At the local Census ACS median household income of $61,134/year ($5,095/month), the benchmark 2-bedroom Fair Market Rent represents 19.5% of monthly income.
How is the 30% housing affordability standard calculated in Owen County, KY?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $995/month, the required minimum annual gross income is calculated as ($995 × 12) ÷ 0.30 = $39,800 per year.