Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,753$21,036 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Tompkins County, NY
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Tompkins County, NY
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 | $1,263 | $15,156 | $50,520 | $24.29/hr |
| 1-Bedroom Apartment | $1,466 | $17,592 | $58,640 | $28.19/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,753 | $21,036 | $70,120 | $33.71/hr |
| 3-Bedroom Home | $2,102 | $25,224 | $84,080 | $40.42/hr |
| 4-Bedroom Home | $2,624 | $31,488 | $104,960 | $50.46/hr |
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Frequently Asked Questions About Rent in Tompkins County, NY
What is the Fair Market Rent for a 2-bedroom in Tompkins County, NY?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Tompkins County, NY is $1,753 per month ($21,036 per year).
What hourly wage is needed to afford rent in Tompkins County, NY?
To comfortably afford a 2-bedroom apartment at $1,753/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $33.71 per hour ($70,120/year).
What are the HUD Fair Market Rents by bedroom count in Tompkins County, NY?
Official 2026 HUD rents in Tompkins County, NY are: Studio: $1,263/mo, 1-Bedroom: $1,466/mo, 2-Bedroom: $1,753/mo, 3-Bedroom: $2,102/mo, and 4-Bedroom: $2,624/mo.
How do HUD Fair Market Rents compare to local incomes in Tompkins County, NY?
At the local Census ACS median household income of $74,024/year ($6,169/month), the benchmark 2-bedroom Fair Market Rent represents 28.4% of monthly income.
How is the 30% housing affordability standard calculated in Tompkins County, NY?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,753/month, the required minimum annual gross income is calculated as ($1,753 × 12) ÷ 0.30 = $70,120 per year.