Rental Benchmark Overview
2-Bedroom Benchmark Rent
$987$11,844 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Ripley County, IN
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Ripley 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 | $681 | $8,172 | $27,240 | $13.10/hr |
| 1-Bedroom Apartment | $752 | $9,024 | $30,080 | $14.46/hr |
| 2-Bedroom ApartmentStandard Benchmark | $987 | $11,844 | $39,480 | $18.98/hr |
| 3-Bedroom Home | $1,302 | $15,624 | $52,080 | $25.04/hr |
| 4-Bedroom Home | $1,307 | $15,684 | $52,280 | $25.13/hr |
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Frequently Asked Questions About Rent in Ripley County, IN
What is the Fair Market Rent for a 2-bedroom in Ripley County, IN?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Ripley County, IN is $987 per month ($11,844 per year).
What hourly wage is needed to afford rent in Ripley County, IN?
To comfortably afford a 2-bedroom apartment at $987/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $18.98 per hour ($39,480/year).
What are the HUD Fair Market Rents by bedroom count in Ripley County, IN?
Official 2026 HUD rents in Ripley County, IN are: Studio: $681/mo, 1-Bedroom: $752/mo, 2-Bedroom: $987/mo, 3-Bedroom: $1,302/mo, and 4-Bedroom: $1,307/mo.
How do HUD Fair Market Rents compare to local incomes in Ripley County, IN?
At the local Census ACS median household income of $70,573/year ($5,881/month), the benchmark 2-bedroom Fair Market Rent represents 16.8% of monthly income.
How is the 30% housing affordability standard calculated in Ripley County, IN?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $987/month, the required minimum annual gross income is calculated as ($987 × 12) ÷ 0.30 = $39,480 per year.