Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,094$13,128 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Clay County, IN
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Clay County, IN
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 | $859 | $10,308 | $34,360 | $16.52/hr |
| 1-Bedroom Apartment | $864 | $10,368 | $34,560 | $16.62/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,094 | $13,128 | $43,760 | $21.04/hr |
| 3-Bedroom Home | $1,312 | $15,744 | $52,480 | $25.23/hr |
| 4-Bedroom Home | $1,535 | $18,420 | $61,400 | $29.52/hr |
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Frequently Asked Questions About Rent in Clay County, IN
What is the Fair Market Rent for a 2-bedroom in Clay County, IN?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Clay County, IN is $1,094 per month ($13,128 per year).
What hourly wage is needed to afford rent in Clay County, IN?
To comfortably afford a 2-bedroom apartment at $1,094/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $21.04 per hour ($43,760/year).
What are the HUD Fair Market Rents by bedroom count in Clay County, IN?
Official 2026 HUD rents in Clay County, IN are: Studio: $859/mo, 1-Bedroom: $864/mo, 2-Bedroom: $1,094/mo, 3-Bedroom: $1,312/mo, and 4-Bedroom: $1,535/mo.
How do HUD Fair Market Rents compare to local incomes in Clay County, IN?
At the local Census ACS median household income of $70,010/year ($5,834/month), the benchmark 2-bedroom Fair Market Rent represents 18.8% of monthly income.
How is the 30% housing affordability standard calculated in Clay County, IN?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,094/month, the required minimum annual gross income is calculated as ($1,094 × 12) ÷ 0.30 = $43,760 per year.