Rental Benchmark Overview
2-Bedroom Benchmark Rent
$964$11,568 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Parke County, IN
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Parke 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 | $691 | $8,292 | $27,640 | $13.29/hr |
| 1-Bedroom Apartment | $735 | $8,820 | $29,400 | $14.13/hr |
| 2-Bedroom ApartmentStandard Benchmark | $964 | $11,568 | $38,560 | $18.54/hr |
| 3-Bedroom Home | $1,272 | $15,264 | $50,880 | $24.46/hr |
| 4-Bedroom Home | $1,276 | $15,312 | $51,040 | $24.54/hr |
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Frequently Asked Questions About Rent in Parke County, IN
What is the Fair Market Rent for a 2-bedroom in Parke County, IN?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Parke County, IN is $964 per month ($11,568 per year).
What hourly wage is needed to afford rent in Parke County, IN?
To comfortably afford a 2-bedroom apartment at $964/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $18.54 per hour ($38,560/year).
What are the HUD Fair Market Rents by bedroom count in Parke County, IN?
Official 2026 HUD rents in Parke County, IN are: Studio: $691/mo, 1-Bedroom: $735/mo, 2-Bedroom: $964/mo, 3-Bedroom: $1,272/mo, and 4-Bedroom: $1,276/mo.
How do HUD Fair Market Rents compare to local incomes in Parke County, IN?
At the local Census ACS median household income of $68,485/year ($5,707/month), the benchmark 2-bedroom Fair Market Rent represents 16.9% of monthly income.
How is the 30% housing affordability standard calculated in Parke County, IN?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $964/month, the required minimum annual gross income is calculated as ($964 × 12) ÷ 0.30 = $38,560 per year.