TERRE HAUTE, Ind. (WTWO/WAWV) — Hoosiers working full time need to earn $22.18 per hour to afford a two-bedroom apartment at Fair Market Price in Indiana, while the average renter wage in Indiana is only $18.05, according to a new report.
The Out of Reach report is released annually by the National Low Income Housing Coalition (NLIHC), which calls “attention to the disparity between wages and the cost of rental housing in the U.S.,” according to their website.
In Indiana, the Fair Market Price for a two-bedroom apartment is $1,152, which means in order to afford this level of rent and utilities—without paying more than 30% of income on housing— a household would have to earn $3,844 a month or $46,125 annually, according to the Out of Reach report.
With the average renter in Indiana making only $18.05 an hour, a Hoosier looking to rent a two-bedroom apartment at FMR on their own would have to increase their hourly pay by $4.13 an hour. Meaning they would need to increase their annual salary by $8,590 to afford the apartment.
Not only is the average renter in Indiana making $4.13 an hour less than the needed wage to afford a two-bedroom apartment at FMR, according to the report, on average, they would also need to work 48 hours per week to afford a two-bedroom apartment at FMR.
In Terre Haute, the hourly wage necessary for a two-bedroom apartment at FMR is only $19.13, a little over $3 less than the state average. However, the estimated hourly wage mean for renters in the Terre Haute area is only $14.72.
Terre Haute isn’t the only community in the Wabash Valley that has an estimated hourly wage mean under the threshold to afford a two-bedroom apartment at FMR in that area; in fact, not a single county in the Wabash Valley meets that requirement.
Two-Bedroom apartment affordability by county in the Wabash Valley:
The information below is based on the NLIHC’s 2025 Out of Reach report
Vigo County:
- Hourly wage necessary to afford a two-bedroom apartment at FMR – $19.14
- Estimated hourly mean renter wage – $14.61
Sullivan County:
- Hourly wage necessary to afford a two-bedroom apartment at FMR – $18.10
- Estimated hourly mean renter wage – $14.40
Knox County:
- Hourly wage necessary to afford a two-bedroom apartment at FMR – $17.85
- Estimated hourly mean renter wage – $15.77
Clay County:
- Hourly wage necessary to afford a two-bedroom apartment at FMR – $19.13
- Estimated hourly mean renter wage – $13.05
Parke County:
- Hourly wage necessary to afford a two-bedroom apartment at FMR – $19.08
- Estimated hourly mean renter wage – $9.87
Greene County:
- Hourly wage necessary to afford a two-bedroom apartment at FMR – $17.85
- Estimated hourly mean renter wage – $13.07
Vermillion County:
- Hourly wage necessary to afford a two-bedroom apartment at FMR – $19.13
- Estimated hourly mean renter wage – $18.90
Daviess County:
- Hourly wage necessary to afford a two-bedroom apartment at FMR – $18.37
- Estimated hourly mean renter wage – $12.43
Martin County:
- Hourly wage necessary to afford a two-bedroom apartment at FMR – $17.85
- Estimated hourly mean renter wage – $14.19
