Rental Benchmark Overview
2-Bedroom Benchmark Rent
$974$11,688 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Vermilion County, IL
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Vermilion County, IL
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 | $672 | $8,064 | $26,880 | $12.92/hr |
| 1-Bedroom Apartment | $742 | $8,904 | $29,680 | $14.27/hr |
| 2-Bedroom ApartmentStandard Benchmark | $974 | $11,688 | $38,960 | $18.73/hr |
| 3-Bedroom Home | $1,179 | $14,148 | $47,160 | $22.67/hr |
| 4-Bedroom Home | $1,306 | $15,672 | $52,240 | $25.12/hr |
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Frequently Asked Questions About Rent in Vermilion County, IL
What is the Fair Market Rent for a 2-bedroom in Vermilion County, IL?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Vermilion County, IL is $974 per month ($11,688 per year).
What hourly wage is needed to afford rent in Vermilion County, IL?
To comfortably afford a 2-bedroom apartment at $974/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $18.73 per hour ($38,960/year).
What are the HUD Fair Market Rents by bedroom count in Vermilion County, IL?
Official 2026 HUD rents in Vermilion County, IL are: Studio: $672/mo, 1-Bedroom: $742/mo, 2-Bedroom: $974/mo, 3-Bedroom: $1,179/mo, and 4-Bedroom: $1,306/mo.
How do HUD Fair Market Rents compare to local incomes in Vermilion County, IL?
At the local Census ACS median household income of $56,877/year ($4,740/month), the benchmark 2-bedroom Fair Market Rent represents 20.5% of monthly income.
How is the 30% housing affordability standard calculated in Vermilion County, IL?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $974/month, the required minimum annual gross income is calculated as ($974 × 12) ÷ 0.30 = $38,960 per year.