Rental Benchmark Overview
2-Bedroom Benchmark Rent
$956$11,472 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Henry County, IN
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Henry 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 | $771 | $9,252 | $30,840 | $14.83/hr |
| 1-Bedroom Apartment | $775 | $9,300 | $31,000 | $14.90/hr |
| 2-Bedroom ApartmentStandard Benchmark | $956 | $11,472 | $38,240 | $18.38/hr |
| 3-Bedroom Home | $1,146 | $13,752 | $45,840 | $22.04/hr |
| 4-Bedroom Home | $1,266 | $15,192 | $50,640 | $24.35/hr |
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Frequently Asked Questions About Rent in Henry County, IN
What is the Fair Market Rent for a 2-bedroom in Henry County, IN?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Henry County, IN is $956 per month ($11,472 per year).
What hourly wage is needed to afford rent in Henry County, IN?
To comfortably afford a 2-bedroom apartment at $956/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $18.38 per hour ($38,240/year).
What are the HUD Fair Market Rents by bedroom count in Henry County, IN?
Official 2026 HUD rents in Henry County, IN are: Studio: $771/mo, 1-Bedroom: $775/mo, 2-Bedroom: $956/mo, 3-Bedroom: $1,146/mo, and 4-Bedroom: $1,266/mo.
How do HUD Fair Market Rents compare to local incomes in Henry County, IN?
At the local Census ACS median household income of $63,150/year ($5,263/month), the benchmark 2-bedroom Fair Market Rent represents 18.2% of monthly income.
How is the 30% housing affordability standard calculated in Henry County, IN?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $956/month, the required minimum annual gross income is calculated as ($956 × 12) ÷ 0.30 = $38,240 per year.