Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,950$23,400 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Princeton, NJ
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Princeton, NJ
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 | $1,344 | $16,128 | $53,760 | $25.85/hr |
| 1-Bedroom Apartment | $1,545 | $18,540 | $61,800 | $29.71/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,950 | $23,400 | $78,000 | $37.50/hr |
| 3-Bedroom Home | $2,338 | $28,056 | $93,520 | $44.96/hr |
| 4-Bedroom Home | $2,670 | $32,040 | $106,800 | $51.35/hr |
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Frequently Asked Questions About Rent in Princeton, NJ
What is the Fair Market Rent for a 2-bedroom in Princeton, NJ?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Princeton, NJ is $1,950 per month ($23,400 per year).
What hourly wage is needed to afford rent in Princeton, NJ?
To comfortably afford a 2-bedroom apartment at $1,950/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $37.50 per hour ($78,000/year).
What are the HUD Fair Market Rents by bedroom count in Princeton, NJ?
Official 2026 HUD rents in Princeton, NJ are: Studio: $1,344/mo, 1-Bedroom: $1,545/mo, 2-Bedroom: $1,950/mo, 3-Bedroom: $2,338/mo, and 4-Bedroom: $2,670/mo.
How do HUD Fair Market Rents compare to local incomes in Princeton, NJ?
At the local Census ACS median household income of $192,079/year ($16,007/month), the benchmark 2-bedroom Fair Market Rent represents 12.2% of monthly income.
How is the 30% housing affordability standard calculated in Princeton, NJ?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,950/month, the required minimum annual gross income is calculated as ($1,950 × 12) ÷ 0.30 = $78,000 per year.