Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,055$12,660 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Simpson County, KY
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Simpson County, KY
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 | $754 | $9,048 | $30,160 | $14.50/hr |
| 1-Bedroom Apartment | $872 | $10,464 | $34,880 | $16.77/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,055 | $12,660 | $42,200 | $20.29/hr |
| 3-Bedroom Home | $1,405 | $16,860 | $56,200 | $27.02/hr |
| 4-Bedroom Home | $1,473 | $17,676 | $58,920 | $28.33/hr |
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Frequently Asked Questions About Rent in Simpson County, KY
What is the Fair Market Rent for a 2-bedroom in Simpson County, KY?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Simpson County, KY is $1,055 per month ($12,660 per year).
What hourly wage is needed to afford rent in Simpson County, KY?
To comfortably afford a 2-bedroom apartment at $1,055/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $20.29 per hour ($42,200/year).
What are the HUD Fair Market Rents by bedroom count in Simpson County, KY?
Official 2026 HUD rents in Simpson County, KY are: Studio: $754/mo, 1-Bedroom: $872/mo, 2-Bedroom: $1,055/mo, 3-Bedroom: $1,405/mo, and 4-Bedroom: $1,473/mo.
How do HUD Fair Market Rents compare to local incomes in Simpson County, KY?
At the local Census ACS median household income of $59,858/year ($4,988/month), the benchmark 2-bedroom Fair Market Rent represents 21.2% of monthly income.
How is the 30% housing affordability standard calculated in Simpson County, KY?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,055/month, the required minimum annual gross income is calculated as ($1,055 × 12) ÷ 0.30 = $42,200 per year.