Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,054$12,648 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Phillips County, CO
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Phillips County, CO
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 | $798 | $9,576 | $31,920 | $15.35/hr |
| 1-Bedroom Apartment | $803 | $9,636 | $32,120 | $15.44/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,054 | $12,648 | $42,160 | $20.27/hr |
| 3-Bedroom Home | $1,345 | $16,140 | $53,800 | $25.87/hr |
| 4-Bedroom Home | $1,652 | $19,824 | $66,080 | $31.77/hr |
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Frequently Asked Questions About Rent in Phillips County, CO
What is the Fair Market Rent for a 2-bedroom in Phillips County, CO?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Phillips County, CO is $1,054 per month ($12,648 per year).
What hourly wage is needed to afford rent in Phillips County, CO?
To comfortably afford a 2-bedroom apartment at $1,054/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $20.27 per hour ($42,160/year).
What are the HUD Fair Market Rents by bedroom count in Phillips County, CO?
Official 2026 HUD rents in Phillips County, CO are: Studio: $798/mo, 1-Bedroom: $803/mo, 2-Bedroom: $1,054/mo, 3-Bedroom: $1,345/mo, and 4-Bedroom: $1,652/mo.
How do HUD Fair Market Rents compare to local incomes in Phillips County, CO?
At the local Census ACS median household income of $64,674/year ($5,390/month), the benchmark 2-bedroom Fair Market Rent represents 19.6% of monthly income.
How is the 30% housing affordability standard calculated in Phillips County, CO?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,054/month, the required minimum annual gross income is calculated as ($1,054 × 12) ÷ 0.30 = $42,160 per year.