Rental Benchmark Overview
2-Bedroom Benchmark Rent
$914$10,968 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Patrick County, VA
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Patrick County, 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 | $758 | $9,096 | $30,320 | $14.58/hr |
| 1-Bedroom Apartment | $763 | $9,156 | $30,520 | $14.67/hr |
| 2-Bedroom ApartmentStandard Benchmark | $914 | $10,968 | $36,560 | $17.58/hr |
| 3-Bedroom Home | $1,146 | $13,752 | $45,840 | $22.04/hr |
| 4-Bedroom Home | $1,429 | $17,148 | $57,160 | $27.48/hr |
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Frequently Asked Questions About Rent in Patrick County, VA
What is the Fair Market Rent for a 2-bedroom in Patrick County, VA?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Patrick County, VA is $914 per month ($10,968 per year).
What hourly wage is needed to afford rent in Patrick County, 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 Patrick County, VA?
Official 2026 HUD rents in Patrick County, VA are: Studio: $758/mo, 1-Bedroom: $763/mo, 2-Bedroom: $914/mo, 3-Bedroom: $1,146/mo, and 4-Bedroom: $1,429/mo.
How do HUD Fair Market Rents compare to local incomes in Patrick County, VA?
At the local Census ACS median household income of $53,038/year ($4,420/month), the benchmark 2-bedroom Fair Market Rent represents 20.7% of monthly income.
How is the 30% housing affordability standard calculated in Patrick County, 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.