Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,051$12,612 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Smith County, TN
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Smith County, TN
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 | $796 | $9,552 | $31,840 | $15.31/hr |
| 1-Bedroom Apartment | $801 | $9,612 | $32,040 | $15.40/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,051 | $12,612 | $42,040 | $20.21/hr |
| 3-Bedroom Home | $1,368 | $16,416 | $54,720 | $26.31/hr |
| 4-Bedroom Home | $1,392 | $16,704 | $55,680 | $26.77/hr |
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Frequently Asked Questions About Rent in Smith County, TN
What is the Fair Market Rent for a 2-bedroom in Smith County, TN?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Smith County, TN is $1,051 per month ($12,612 per year).
What hourly wage is needed to afford rent in Smith County, TN?
To comfortably afford a 2-bedroom apartment at $1,051/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $20.21 per hour ($42,040/year).
What are the HUD Fair Market Rents by bedroom count in Smith County, TN?
Official 2026 HUD rents in Smith County, TN are: Studio: $796/mo, 1-Bedroom: $801/mo, 2-Bedroom: $1,051/mo, 3-Bedroom: $1,368/mo, and 4-Bedroom: $1,392/mo.
How do HUD Fair Market Rents compare to local incomes in Smith County, TN?
At the local Census ACS median household income of $66,293/year ($5,524/month), the benchmark 2-bedroom Fair Market Rent represents 19% of monthly income.
How is the 30% housing affordability standard calculated in Smith County, TN?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,051/month, the required minimum annual gross income is calculated as ($1,051 × 12) ÷ 0.30 = $42,040 per year.