Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,317$15,804 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Lake County, IN
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Lake 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 | $959 | $11,508 | $38,360 | $18.44/hr |
| 1-Bedroom Apartment | $1,082 | $12,984 | $43,280 | $20.81/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,317 | $15,804 | $52,680 | $25.33/hr |
| 3-Bedroom Home | $1,612 | $19,344 | $64,480 | $31.00/hr |
| 4-Bedroom Home | $1,744 | $20,928 | $69,760 | $33.54/hr |
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Frequently Asked Questions About Rent in Lake County, IN
What is the Fair Market Rent for a 2-bedroom in Lake County, IN?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Lake County, IN is $1,317 per month ($15,804 per year).
What hourly wage is needed to afford rent in Lake County, IN?
To comfortably afford a 2-bedroom apartment at $1,317/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $25.33 per hour ($52,680/year).
What are the HUD Fair Market Rents by bedroom count in Lake County, IN?
Official 2026 HUD rents in Lake County, IN are: Studio: $959/mo, 1-Bedroom: $1,082/mo, 2-Bedroom: $1,317/mo, 3-Bedroom: $1,612/mo, and 4-Bedroom: $1,744/mo.
How do HUD Fair Market Rents compare to local incomes in Lake County, IN?
At the local Census ACS median household income of $71,493/year ($5,958/month), the benchmark 2-bedroom Fair Market Rent represents 22.1% of monthly income.
How is the 30% housing affordability standard calculated in Lake County, IN?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,317/month, the required minimum annual gross income is calculated as ($1,317 × 12) ÷ 0.30 = $52,680 per year.