Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,206$14,472 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Madison County, IN
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Madison 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 | $898 | $10,776 | $35,920 | $17.27/hr |
| 1-Bedroom Apartment | $919 | $11,028 | $36,760 | $17.67/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,206 | $14,472 | $48,240 | $23.19/hr |
| 3-Bedroom Home | $1,594 | $19,128 | $63,760 | $30.65/hr |
| 4-Bedroom Home | $1,597 | $19,164 | $63,880 | $30.71/hr |
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Frequently Asked Questions About Rent in Madison County, IN
What is the Fair Market Rent for a 2-bedroom in Madison County, IN?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Madison County, IN is $1,206 per month ($14,472 per year).
What hourly wage is needed to afford rent in Madison County, IN?
To comfortably afford a 2-bedroom apartment at $1,206/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $23.19 per hour ($48,240/year).
What are the HUD Fair Market Rents by bedroom count in Madison County, IN?
Official 2026 HUD rents in Madison County, IN are: Studio: $898/mo, 1-Bedroom: $919/mo, 2-Bedroom: $1,206/mo, 3-Bedroom: $1,594/mo, and 4-Bedroom: $1,597/mo.
How do HUD Fair Market Rents compare to local incomes in Madison County, IN?
At the local Census ACS median household income of $63,037/year ($5,253/month), the benchmark 2-bedroom Fair Market Rent represents 23% of monthly income.
How is the 30% housing affordability standard calculated in Madison County, IN?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,206/month, the required minimum annual gross income is calculated as ($1,206 × 12) ÷ 0.30 = $48,240 per year.