Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,113$13,356 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Evansville, IN
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Evansville, 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 | $853 | $10,236 | $34,120 | $16.40/hr |
| 1-Bedroom Apartment | $860 | $10,320 | $34,400 | $16.54/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,113 | $13,356 | $44,520 | $21.40/hr |
| 3-Bedroom Home | $1,370 | $16,440 | $54,800 | $26.35/hr |
| 4-Bedroom Home | $1,539 | $18,468 | $61,560 | $29.60/hr |
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Frequently Asked Questions About Rent in Evansville, IN
What is the Fair Market Rent for a 2-bedroom in Evansville, IN?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Evansville, IN is $1,113 per month ($13,356 per year).
What hourly wage is needed to afford rent in Evansville, IN?
To comfortably afford a 2-bedroom apartment at $1,113/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $21.40 per hour ($44,520/year).
What are the HUD Fair Market Rents by bedroom count in Evansville, IN?
Official 2026 HUD rents in Evansville, IN are: Studio: $853/mo, 1-Bedroom: $860/mo, 2-Bedroom: $1,113/mo, 3-Bedroom: $1,370/mo, and 4-Bedroom: $1,539/mo.
How do HUD Fair Market Rents compare to local incomes in Evansville, IN?
At the local Census ACS median household income of $53,387/year ($4,449/month), the benchmark 2-bedroom Fair Market Rent represents 25% of monthly income.
How is the 30% housing affordability standard calculated in Evansville, IN?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,113/month, the required minimum annual gross income is calculated as ($1,113 × 12) ÷ 0.30 = $44,520 per year.