Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,196$14,352 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Rowan County, NC
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Rowan County, NC
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 | $952 | $11,424 | $38,080 | $18.31/hr |
| 1-Bedroom Apartment | $958 | $11,496 | $38,320 | $18.42/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,196 | $14,352 | $47,840 | $23.00/hr |
| 3-Bedroom Home | $1,573 | $18,876 | $62,920 | $30.25/hr |
| 4-Bedroom Home | $2,006 | $24,072 | $80,240 | $38.58/hr |
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Frequently Asked Questions About Rent in Rowan County, NC
What is the Fair Market Rent for a 2-bedroom in Rowan County, NC?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Rowan County, NC is $1,196 per month ($14,352 per year).
What hourly wage is needed to afford rent in Rowan County, NC?
To comfortably afford a 2-bedroom apartment at $1,196/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $23.00 per hour ($47,840/year).
What are the HUD Fair Market Rents by bedroom count in Rowan County, NC?
Official 2026 HUD rents in Rowan County, NC are: Studio: $952/mo, 1-Bedroom: $958/mo, 2-Bedroom: $1,196/mo, 3-Bedroom: $1,573/mo, and 4-Bedroom: $2,006/mo.
How do HUD Fair Market Rents compare to local incomes in Rowan County, NC?
At the local Census ACS median household income of $65,725/year ($5,477/month), the benchmark 2-bedroom Fair Market Rent represents 21.8% of monthly income.
How is the 30% housing affordability standard calculated in Rowan County, NC?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,196/month, the required minimum annual gross income is calculated as ($1,196 × 12) ÷ 0.30 = $47,840 per year.