Key Economic Benchmarks
Median Household Income
$65,875$5,490 per month · U.S. Census Bureau ACS 5-YearFair market rent & 30% rule in Benton County, IN
Official HUD Fair Market Rents evaluated against local household income benchmarks.
2026 HUD Fair Market Rent Schedule: Benton County, IN
Official FY2026 HUD Fair Market Rents for Lafayette-West Lafayette, IN HUD Metro FMR Area. Under the federal 30% housing affordability standard, housing costs are sustainable when they consume 30% or less of gross household income.
| Unit Size | Monthly Rent | Annual Rent | 30% Rule Min. Income | % of Median Income |
|---|---|---|---|---|
| Studio / Efficiency | $894 | $10,728 | $35,760 | 16.3% |
| 1-Bedroom Apartment | $1,032 | $12,384 | $41,280 | 18.8% |
| 2-Bedroom ApartmentBenchmark | $1,242 | $14,904 | $49,680 | 22.6% |
| 3-Bedroom Home | $1,489 | $17,868 | $59,560 | 27.1% |
| 4-Bedroom Home | $1,992 | $23,904 | $79,680 | 36.3% |
50/30/20 Living Budget in Benton County, IN
Based on the local median household income of $65,875/year ($5,490/month), here is how a balanced budget allocates expenses:
Take-Home Pay & Tax Explorer in Indiana
Explore net income after federal income tax, FICA, and Indiana state income tax based on the local median baseline.
Related Regional & Financial Profiles
Compare earnings and living costs across Indiana with official federal datasets:
Frequently Asked Questions About Living in Benton County, IN
What is the median household income in Benton County, IN?
According to the latest U.S. Census Bureau ACS 5-Year survey, the median household income in Benton County, IN is $65,875 per year (approximately $5,490 per month).
What is the average rent in Benton County, IN?
According to HUD Fair Market Rent (FMR) benchmarks for 2026, standard monthly rents in Benton County, IN are $894 for a studio, $1,032 for 1 bedroom, $1,242 for 2 bedrooms, $1,489 for 3 bedrooms, and $1,992 for 4 bedrooms.
How does the cost of living in Benton County, IN compare to the national average?
Based on the Bureau of Economic Analysis (BEA) Regional Price Parity index, the general price level in Benton County, IN is 93.4 (6.6% lower than the U.S. national baseline of 100.0).
How much do you need to earn to comfortably afford rent in Benton County, IN?
Under the standard 30% housing affordability standard, renting a median 2-bedroom home ($1,242/month) in Benton County, IN requires a minimum gross household income of $49,680 per year ($4,140 per month).
What is a balanced 50/30/20 monthly budget in Benton County, IN?
For a typical household earning the median income of $65,875/year ($5,490/month) in Benton County, IN, a balanced 50/30/20 budget allocates $2,745/month to essential needs (rent, utilities, groceries), $1,647/month to discretionary spending, and $1,098/month to savings and debt repayment.
What are typical electricity and utility costs in Benton County, IN?
Residential electricity rates in Indiana average 17.5¢ per kWh according to the U.S. Energy Information Administration (EIA). For an average home using 900 kWh per month, the estimated electric bill is approximately $158 per month.