Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,036$12,432 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Steuben County, IN
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Steuben 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 | $784 | $9,408 | $31,360 | $15.08/hr |
| 1-Bedroom Apartment | $790 | $9,480 | $31,600 | $15.19/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,036 | $12,432 | $41,440 | $19.92/hr |
| 3-Bedroom Home | $1,337 | $16,044 | $53,480 | $25.71/hr |
| 4-Bedroom Home | $1,372 | $16,464 | $54,880 | $26.38/hr |
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Frequently Asked Questions About Rent in Steuben County, IN
What is the Fair Market Rent for a 2-bedroom in Steuben County, IN?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Steuben County, IN is $1,036 per month ($12,432 per year).
What hourly wage is needed to afford rent in Steuben County, IN?
To comfortably afford a 2-bedroom apartment at $1,036/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $19.92 per hour ($41,440/year).
What are the HUD Fair Market Rents by bedroom count in Steuben County, IN?
Official 2026 HUD rents in Steuben County, IN are: Studio: $784/mo, 1-Bedroom: $790/mo, 2-Bedroom: $1,036/mo, 3-Bedroom: $1,337/mo, and 4-Bedroom: $1,372/mo.
How do HUD Fair Market Rents compare to local incomes in Steuben County, IN?
At the local Census ACS median household income of $74,911/year ($6,243/month), the benchmark 2-bedroom Fair Market Rent represents 16.6% of monthly income.
How is the 30% housing affordability standard calculated in Steuben County, IN?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,036/month, the required minimum annual gross income is calculated as ($1,036 × 12) ÷ 0.30 = $41,440 per year.