Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,242$14,904 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Tippecanoe County, IN
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Tippecanoe 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 | $894 | $10,728 | $35,760 | $17.19/hr |
| 1-Bedroom Apartment | $1,032 | $12,384 | $41,280 | $19.85/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,242 | $14,904 | $49,680 | $23.88/hr |
| 3-Bedroom Home | $1,489 | $17,868 | $59,560 | $28.63/hr |
| 4-Bedroom Home | $1,992 | $23,904 | $79,680 | $38.31/hr |
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Frequently Asked Questions About Rent in Tippecanoe County, IN
What is the Fair Market Rent for a 2-bedroom in Tippecanoe County, IN?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Tippecanoe County, IN is $1,242 per month ($14,904 per year).
What hourly wage is needed to afford rent in Tippecanoe County, IN?
To comfortably afford a 2-bedroom apartment at $1,242/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $23.88 per hour ($49,680/year).
What are the HUD Fair Market Rents by bedroom count in Tippecanoe County, IN?
Official 2026 HUD rents in Tippecanoe County, IN are: Studio: $894/mo, 1-Bedroom: $1,032/mo, 2-Bedroom: $1,242/mo, 3-Bedroom: $1,489/mo, and 4-Bedroom: $1,992/mo.
How do HUD Fair Market Rents compare to local incomes in Tippecanoe County, IN?
At the local Census ACS median household income of $60,636/year ($5,053/month), the benchmark 2-bedroom Fair Market Rent represents 24.6% of monthly income.
How is the 30% housing affordability standard calculated in Tippecanoe County, IN?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,242/month, the required minimum annual gross income is calculated as ($1,242 × 12) ÷ 0.30 = $49,680 per year.