Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,123$13,476 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Howard County, IN
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Howard 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 | $884 | $10,608 | $35,360 | $17.00/hr |
| 1-Bedroom Apartment | $890 | $10,680 | $35,600 | $17.12/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,123 | $13,476 | $44,920 | $21.60/hr |
| 3-Bedroom Home | $1,388 | $16,656 | $55,520 | $26.69/hr |
| 4-Bedroom Home | $1,567 | $18,804 | $62,680 | $30.13/hr |
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Frequently Asked Questions About Rent in Howard County, IN
What is the Fair Market Rent for a 2-bedroom in Howard County, IN?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Howard County, IN is $1,123 per month ($13,476 per year).
What hourly wage is needed to afford rent in Howard County, IN?
To comfortably afford a 2-bedroom apartment at $1,123/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $21.60 per hour ($44,920/year).
What are the HUD Fair Market Rents by bedroom count in Howard County, IN?
Official 2026 HUD rents in Howard County, IN are: Studio: $884/mo, 1-Bedroom: $890/mo, 2-Bedroom: $1,123/mo, 3-Bedroom: $1,388/mo, and 4-Bedroom: $1,567/mo.
How do HUD Fair Market Rents compare to local incomes in Howard County, IN?
At the local Census ACS median household income of $64,027/year ($5,336/month), the benchmark 2-bedroom Fair Market Rent represents 21% of monthly income.
How is the 30% housing affordability standard calculated in Howard County, IN?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,123/month, the required minimum annual gross income is calculated as ($1,123 × 12) ÷ 0.30 = $44,920 per year.