Rental Benchmark Overview
2-Bedroom Benchmark Rent
$975$11,700 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Vance County, NC
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Vance County, NC
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 | $738 | $8,856 | $29,520 | $14.19/hr |
| 1-Bedroom Apartment | $743 | $8,916 | $29,720 | $14.29/hr |
| 2-Bedroom ApartmentStandard Benchmark | $975 | $11,700 | $39,000 | $18.75/hr |
| 3-Bedroom Home | $1,197 | $14,364 | $47,880 | $23.02/hr |
| 4-Bedroom Home | $1,318 | $15,816 | $52,720 | $25.35/hr |
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Frequently Asked Questions About Rent in Vance County, NC
What is the Fair Market Rent for a 2-bedroom in Vance County, NC?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Vance County, NC is $975 per month ($11,700 per year).
What hourly wage is needed to afford rent in Vance County, NC?
To comfortably afford a 2-bedroom apartment at $975/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $18.75 per hour ($39,000/year).
What are the HUD Fair Market Rents by bedroom count in Vance County, NC?
Official 2026 HUD rents in Vance County, NC are: Studio: $738/mo, 1-Bedroom: $743/mo, 2-Bedroom: $975/mo, 3-Bedroom: $1,197/mo, and 4-Bedroom: $1,318/mo.
How do HUD Fair Market Rents compare to local incomes in Vance County, NC?
At the local Census ACS median household income of $50,465/year ($4,205/month), the benchmark 2-bedroom Fair Market Rent represents 23.2% of monthly income.
How is the 30% housing affordability standard calculated in Vance County, NC?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $975/month, the required minimum annual gross income is calculated as ($975 × 12) ÷ 0.30 = $39,000 per year.