Rental Benchmark Overview
2-Bedroom Benchmark Rent
$951$11,412 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Shelby County, IL
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Shelby 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 | $656 | $7,872 | $26,240 | $12.62/hr |
| 1-Bedroom Apartment | $789 | $9,468 | $31,560 | $15.17/hr |
| 2-Bedroom ApartmentStandard Benchmark | $951 | $11,412 | $38,040 | $18.29/hr |
| 3-Bedroom Home | $1,140 | $13,680 | $45,600 | $21.92/hr |
| 4-Bedroom Home | $1,435 | $17,220 | $57,400 | $27.60/hr |
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Frequently Asked Questions About Rent in Shelby County, IL
What is the Fair Market Rent for a 2-bedroom in Shelby County, IL?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Shelby County, IL is $951 per month ($11,412 per year).
What hourly wage is needed to afford rent in Shelby County, IL?
To comfortably afford a 2-bedroom apartment at $951/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $18.29 per hour ($38,040/year).
What are the HUD Fair Market Rents by bedroom count in Shelby County, IL?
Official 2026 HUD rents in Shelby County, IL are: Studio: $656/mo, 1-Bedroom: $789/mo, 2-Bedroom: $951/mo, 3-Bedroom: $1,140/mo, and 4-Bedroom: $1,435/mo.
How do HUD Fair Market Rents compare to local incomes in Shelby County, IL?
At the local Census ACS median household income of $72,095/year ($6,008/month), the benchmark 2-bedroom Fair Market Rent represents 15.8% of monthly income.
How is the 30% housing affordability standard calculated in Shelby County, IL?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $951/month, the required minimum annual gross income is calculated as ($951 × 12) ÷ 0.30 = $38,040 per year.