Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,153$13,836 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Story County, IA
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Story County, IA
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 | $972 | $11,664 | $38,880 | $18.69/hr |
| 1-Bedroom Apartment | $1,026 | $12,312 | $41,040 | $19.73/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,153 | $13,836 | $46,120 | $22.17/hr |
| 3-Bedroom Home | $1,601 | $19,212 | $64,040 | $30.79/hr |
| 4-Bedroom Home | $1,934 | $23,208 | $77,360 | $37.19/hr |
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Frequently Asked Questions About Rent in Story County, IA
What is the Fair Market Rent for a 2-bedroom in Story County, IA?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Story County, IA is $1,153 per month ($13,836 per year).
What hourly wage is needed to afford rent in Story County, IA?
To comfortably afford a 2-bedroom apartment at $1,153/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $22.17 per hour ($46,120/year).
What are the HUD Fair Market Rents by bedroom count in Story County, IA?
Official 2026 HUD rents in Story County, IA are: Studio: $972/mo, 1-Bedroom: $1,026/mo, 2-Bedroom: $1,153/mo, 3-Bedroom: $1,601/mo, and 4-Bedroom: $1,934/mo.
How do HUD Fair Market Rents compare to local incomes in Story County, IA?
At the local Census ACS median household income of $69,685/year ($5,807/month), the benchmark 2-bedroom Fair Market Rent represents 19.9% of monthly income.
How is the 30% housing affordability standard calculated in Story County, IA?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,153/month, the required minimum annual gross income is calculated as ($1,153 × 12) ÷ 0.30 = $46,120 per year.