Rental Benchmark Overview
2-Bedroom Benchmark Rent
$973$11,676 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Schoolcraft County, MI
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Schoolcraft County, MI
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 | $689 | $8,268 | $27,560 | $13.25/hr |
| 1-Bedroom Apartment | $858 | $10,296 | $34,320 | $16.50/hr |
| 2-Bedroom ApartmentStandard Benchmark | $973 | $11,676 | $38,920 | $18.71/hr |
| 3-Bedroom Home | $1,338 | $16,056 | $53,520 | $25.73/hr |
| 4-Bedroom Home | $1,380 | $16,560 | $55,200 | $26.54/hr |
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Frequently Asked Questions About Rent in Schoolcraft County, MI
What is the Fair Market Rent for a 2-bedroom in Schoolcraft County, MI?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Schoolcraft County, MI is $973 per month ($11,676 per year).
What hourly wage is needed to afford rent in Schoolcraft County, MI?
To comfortably afford a 2-bedroom apartment at $973/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $18.71 per hour ($38,920/year).
What are the HUD Fair Market Rents by bedroom count in Schoolcraft County, MI?
Official 2026 HUD rents in Schoolcraft County, MI are: Studio: $689/mo, 1-Bedroom: $858/mo, 2-Bedroom: $973/mo, 3-Bedroom: $1,338/mo, and 4-Bedroom: $1,380/mo.
How do HUD Fair Market Rents compare to local incomes in Schoolcraft County, MI?
At the local Census ACS median household income of $56,782/year ($4,732/month), the benchmark 2-bedroom Fair Market Rent represents 20.6% of monthly income.
How is the 30% housing affordability standard calculated in Schoolcraft County, MI?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $973/month, the required minimum annual gross income is calculated as ($973 × 12) ÷ 0.30 = $38,920 per year.