Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,157$13,884 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Richmond County, VA
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Richmond 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 | $876 | $10,512 | $35,040 | $16.85/hr |
| 1-Bedroom Apartment | $882 | $10,584 | $35,280 | $16.96/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,157 | $13,884 | $46,280 | $22.25/hr |
| 3-Bedroom Home | $1,464 | $17,568 | $58,560 | $28.15/hr |
| 4-Bedroom Home | $1,825 | $21,900 | $73,000 | $35.10/hr |
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Frequently Asked Questions About Rent in Richmond County, VA
What is the Fair Market Rent for a 2-bedroom in Richmond County, VA?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Richmond County, VA is $1,157 per month ($13,884 per year).
What hourly wage is needed to afford rent in Richmond County, VA?
To comfortably afford a 2-bedroom apartment at $1,157/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $22.25 per hour ($46,280/year).
What are the HUD Fair Market Rents by bedroom count in Richmond County, VA?
Official 2026 HUD rents in Richmond County, VA are: Studio: $876/mo, 1-Bedroom: $882/mo, 2-Bedroom: $1,157/mo, 3-Bedroom: $1,464/mo, and 4-Bedroom: $1,825/mo.
How do HUD Fair Market Rents compare to local incomes in Richmond County, VA?
At the local Census ACS median household income of $66,304/year ($5,525/month), the benchmark 2-bedroom Fair Market Rent represents 20.9% of monthly income.
How is the 30% housing affordability standard calculated in Richmond County, VA?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,157/month, the required minimum annual gross income is calculated as ($1,157 × 12) ÷ 0.30 = $46,280 per year.