Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,117$13,404 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Franklin County, IN
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Franklin 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 | $796 | $9,552 | $31,840 | $15.31/hr |
| 1-Bedroom Apartment | $861 | $10,332 | $34,440 | $16.56/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,117 | $13,404 | $44,680 | $21.48/hr |
| 3-Bedroom Home | $1,473 | $17,676 | $58,920 | $28.33/hr |
| 4-Bedroom Home | $1,479 | $17,748 | $59,160 | $28.44/hr |
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Frequently Asked Questions About Rent in Franklin County, IN
What is the Fair Market Rent for a 2-bedroom in Franklin County, IN?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Franklin County, IN is $1,117 per month ($13,404 per year).
What hourly wage is needed to afford rent in Franklin County, IN?
To comfortably afford a 2-bedroom apartment at $1,117/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $21.48 per hour ($44,680/year).
What are the HUD Fair Market Rents by bedroom count in Franklin County, IN?
Official 2026 HUD rents in Franklin County, IN are: Studio: $796/mo, 1-Bedroom: $861/mo, 2-Bedroom: $1,117/mo, 3-Bedroom: $1,473/mo, and 4-Bedroom: $1,479/mo.
How do HUD Fair Market Rents compare to local incomes in Franklin County, IN?
At the local Census ACS median household income of $78,074/year ($6,506/month), the benchmark 2-bedroom Fair Market Rent represents 17.2% of monthly income.
How is the 30% housing affordability standard calculated in Franklin County, IN?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,117/month, the required minimum annual gross income is calculated as ($1,117 × 12) ÷ 0.30 = $44,680 per year.