Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,210$14,520 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Monroe County, IN
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Monroe 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 | $966 | $11,592 | $38,640 | $18.58/hr |
| 1-Bedroom Apartment | $1,072 | $12,864 | $42,880 | $20.62/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,210 | $14,520 | $48,400 | $23.27/hr |
| 3-Bedroom Home | $1,572 | $18,864 | $62,880 | $30.23/hr |
| 4-Bedroom Home | $1,906 | $22,872 | $76,240 | $36.65/hr |
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Frequently Asked Questions About Rent in Monroe County, IN
What is the Fair Market Rent for a 2-bedroom in Monroe County, IN?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Monroe County, IN is $1,210 per month ($14,520 per year).
What hourly wage is needed to afford rent in Monroe County, IN?
To comfortably afford a 2-bedroom apartment at $1,210/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $23.27 per hour ($48,400/year).
What are the HUD Fair Market Rents by bedroom count in Monroe County, IN?
Official 2026 HUD rents in Monroe County, IN are: Studio: $966/mo, 1-Bedroom: $1,072/mo, 2-Bedroom: $1,210/mo, 3-Bedroom: $1,572/mo, and 4-Bedroom: $1,906/mo.
How do HUD Fair Market Rents compare to local incomes in Monroe County, IN?
At the local Census ACS median household income of $65,868/year ($5,489/month), the benchmark 2-bedroom Fair Market Rent represents 22% of monthly income.
How is the 30% housing affordability standard calculated in Monroe County, IN?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,210/month, the required minimum annual gross income is calculated as ($1,210 × 12) ÷ 0.30 = $48,400 per year.