Rental Benchmark Overview
2-Bedroom Benchmark Rent
$966$11,592 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Montgomery County, IN
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Montgomery 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 | $802 | $9,624 | $32,080 | $15.42/hr |
| 1-Bedroom Apartment | $807 | $9,684 | $32,280 | $15.52/hr |
| 2-Bedroom ApartmentStandard Benchmark | $966 | $11,592 | $38,640 | $18.58/hr |
| 3-Bedroom Home | $1,281 | $15,372 | $51,240 | $24.63/hr |
| 4-Bedroom Home | $1,399 | $16,788 | $55,960 | $26.90/hr |
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Frequently Asked Questions About Rent in Montgomery County, IN
What is the Fair Market Rent for a 2-bedroom in Montgomery County, IN?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Montgomery County, IN is $966 per month ($11,592 per year).
What hourly wage is needed to afford rent in Montgomery County, IN?
To comfortably afford a 2-bedroom apartment at $966/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $18.58 per hour ($38,640/year).
What are the HUD Fair Market Rents by bedroom count in Montgomery County, IN?
Official 2026 HUD rents in Montgomery County, IN are: Studio: $802/mo, 1-Bedroom: $807/mo, 2-Bedroom: $966/mo, 3-Bedroom: $1,281/mo, and 4-Bedroom: $1,399/mo.
How do HUD Fair Market Rents compare to local incomes in Montgomery County, IN?
At the local Census ACS median household income of $71,479/year ($5,957/month), the benchmark 2-bedroom Fair Market Rent represents 16.2% of monthly income.
How is the 30% housing affordability standard calculated in Montgomery County, IN?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $966/month, the required minimum annual gross income is calculated as ($966 × 12) ÷ 0.30 = $38,640 per year.