Rental Benchmark Overview
2-Bedroom Benchmark Rent
$937$11,244 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Putnam County, IL
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Putnam 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 | $646 | $7,752 | $25,840 | $12.42/hr |
| 1-Bedroom Apartment | $851 | $10,212 | $34,040 | $16.37/hr |
| 2-Bedroom ApartmentStandard Benchmark | $937 | $11,244 | $37,480 | $18.02/hr |
| 3-Bedroom Home | $1,212 | $14,544 | $48,480 | $23.31/hr |
| 4-Bedroom Home | $1,553 | $18,636 | $62,120 | $29.87/hr |
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Frequently Asked Questions About Rent in Putnam County, IL
What is the Fair Market Rent for a 2-bedroom in Putnam County, IL?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Putnam County, IL is $937 per month ($11,244 per year).
What hourly wage is needed to afford rent in Putnam County, IL?
To comfortably afford a 2-bedroom apartment at $937/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $18.02 per hour ($37,480/year).
What are the HUD Fair Market Rents by bedroom count in Putnam County, IL?
Official 2026 HUD rents in Putnam County, IL are: Studio: $646/mo, 1-Bedroom: $851/mo, 2-Bedroom: $937/mo, 3-Bedroom: $1,212/mo, and 4-Bedroom: $1,553/mo.
How do HUD Fair Market Rents compare to local incomes in Putnam County, IL?
At the local Census ACS median household income of $75,590/year ($6,299/month), the benchmark 2-bedroom Fair Market Rent represents 14.9% of monthly income.
How is the 30% housing affordability standard calculated in Putnam County, IL?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $937/month, the required minimum annual gross income is calculated as ($937 × 12) ÷ 0.30 = $37,480 per year.