Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,261$15,132 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Waynesboro city, VA
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Waynesboro city, VA
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 | $1,088 | $13,056 | $43,520 | $20.92/hr |
| 1-Bedroom Apartment | $1,095 | $13,140 | $43,800 | $21.06/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,261 | $15,132 | $50,440 | $24.25/hr |
| 3-Bedroom Home | $1,734 | $20,808 | $69,360 | $33.35/hr |
| 4-Bedroom Home | $1,941 | $23,292 | $77,640 | $37.33/hr |
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Frequently Asked Questions About Rent in Waynesboro city, VA
What is the Fair Market Rent for a 2-bedroom in Waynesboro city, VA?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Waynesboro city, VA is $1,261 per month ($15,132 per year).
What hourly wage is needed to afford rent in Waynesboro city, VA?
To comfortably afford a 2-bedroom apartment at $1,261/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $24.25 per hour ($50,440/year).
What are the HUD Fair Market Rents by bedroom count in Waynesboro city, VA?
Official 2026 HUD rents in Waynesboro city, VA are: Studio: $1,088/mo, 1-Bedroom: $1,095/mo, 2-Bedroom: $1,261/mo, 3-Bedroom: $1,734/mo, and 4-Bedroom: $1,941/mo.
How do HUD Fair Market Rents compare to local incomes in Waynesboro city, VA?
At the local Census ACS median household income of $59,994/year ($5,000/month), the benchmark 2-bedroom Fair Market Rent represents 25.2% of monthly income.
How is the 30% housing affordability standard calculated in Waynesboro city, VA?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,261/month, the required minimum annual gross income is calculated as ($1,261 × 12) ÷ 0.30 = $50,440 per year.