Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,039$12,468 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Peoria County, IL
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Peoria County, IL
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 | $818 | $9,816 | $32,720 | $15.73/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,039 | $12,468 | $41,560 | $19.98/hr |
| 3-Bedroom Home | $1,346 | $16,152 | $53,840 | $25.88/hr |
| 4-Bedroom Home | $1,449 | $17,388 | $57,960 | $27.87/hr |
See comprehensive cost of living profile for Peoria County, IL →
Explore Related Regional Profiles
Connect housing costs with earnings, taxes, and price levels across Illinois:
Frequently Asked Questions About Rent in Peoria County, IL
What is the Fair Market Rent for a 2-bedroom in Peoria County, IL?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Peoria County, IL is $1,039 per month ($12,468 per year).
What hourly wage is needed to afford rent in Peoria County, IL?
To comfortably afford a 2-bedroom apartment at $1,039/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $19.98 per hour ($41,560/year).
What are the HUD Fair Market Rents by bedroom count in Peoria County, IL?
Official 2026 HUD rents in Peoria County, IL are: Studio: $758/mo, 1-Bedroom: $818/mo, 2-Bedroom: $1,039/mo, 3-Bedroom: $1,346/mo, and 4-Bedroom: $1,449/mo.
How do HUD Fair Market Rents compare to local incomes in Peoria County, IL?
At the local Census ACS median household income of $65,108/year ($5,426/month), the benchmark 2-bedroom Fair Market Rent represents 19.1% of monthly income.
How is the 30% housing affordability standard calculated in Peoria County, IL?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,039/month, the required minimum annual gross income is calculated as ($1,039 × 12) ÷ 0.30 = $41,560 per year.