Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,272$15,264 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Spencer County, KY
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Spencer 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 | $966 | $11,592 | $38,640 | $18.58/hr |
| 1-Bedroom Apartment | $1,047 | $12,564 | $41,880 | $20.13/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,272 | $15,264 | $50,880 | $24.46/hr |
| 3-Bedroom Home | $1,625 | $19,500 | $65,000 | $31.25/hr |
| 4-Bedroom Home | $1,891 | $22,692 | $75,640 | $36.37/hr |
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Frequently Asked Questions About Rent in Spencer County, KY
What is the Fair Market Rent for a 2-bedroom in Spencer County, KY?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Spencer County, KY is $1,272 per month ($15,264 per year).
What hourly wage is needed to afford rent in Spencer County, KY?
To comfortably afford a 2-bedroom apartment at $1,272/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $24.46 per hour ($50,880/year).
What are the HUD Fair Market Rents by bedroom count in Spencer County, KY?
Official 2026 HUD rents in Spencer County, KY are: Studio: $966/mo, 1-Bedroom: $1,047/mo, 2-Bedroom: $1,272/mo, 3-Bedroom: $1,625/mo, and 4-Bedroom: $1,891/mo.
How do HUD Fair Market Rents compare to local incomes in Spencer County, KY?
At the local Census ACS median household income of $102,618/year ($8,552/month), the benchmark 2-bedroom Fair Market Rent represents 14.9% of monthly income.
How is the 30% housing affordability standard calculated in Spencer County, KY?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,272/month, the required minimum annual gross income is calculated as ($1,272 × 12) ÷ 0.30 = $50,880 per year.