Rent in Kokomo, IN at a glance
2-bedroom rent (HUD)
$1,123$13,476 a year · HUD fiscal year 2026From October 1, 2026: $1,179 (+5%)How much rent can you afford in Kokomo, IN?
HUD’s fair market rent for each size, against what a typical household here earns. Change the income to see yours.
Rent in Kokomo, IN by bedroom, and the pay it takes
Income needed keeps rent at 30% of gross pay; the hourly figure assumes one full-time job, 2,080 hours a year.
| Size | A month | A year | Income needed | Hourly wage needed |
|---|---|---|---|---|
| Studio | $884 | $10,608 | $35,360 | $17.00/hr |
| 1 bedroom | $890 | $10,680 | $35,600 | $17.12/hr |
| 2 bedroomsMost searched | $1,123 | $13,476 | $44,920 | $21.60/hr |
| 3 bedrooms | $1,388 | $16,656 | $55,520 | $26.69/hr |
| 4 bedrooms | $1,567 | $18,804 | $62,680 | $30.13/hr |
Living and working in Kokomo, IN
Rent in Kokomo, IN: common questions
How much is rent going up in Kokomo, IN in 2027?
HUD's Fair Market Rent for fiscal 2027, which takes effect October 1, 2026, is $1,179 for a two-bedroom, up 5% from $1,123. A one-bedroom goes from $890 to $915, a studio from $884 to $909.
These are HUD's estimates of what a typical recently rented unit costs, used for housing vouchers. A landlord's increase on your lease follows your lease and your state's rules, not this figure.
What is the average rent in Kokomo, IN?
HUD's Fair Market Rent for 2026 is $890 for a one-bedroom and $1,123 for a two-bedroom, utilities included. That is $13,476 a year for the two-bedroom.
It is not an average of current listings. HUD sets it at the rent 40% of recent movers paid or less for a standard unit, so asking rents on newer places usually run higher.
How much do you need to make to afford rent in Kokomo, IN?
To keep a $1,123 two-bedroom at 30% of gross pay, one full-time worker needs $21.60 an hour, or $44,920 a year. A one-bedroom at $890 takes $17.12 an hour.
How much is a 1, 2 or 3-bedroom apartment in Kokomo, IN?
At HUD's 2026 Fair Market Rent: studio $884, one bedroom $890, two $1,123, three $1,388 and four $1,567 a month.
Is rent affordable in Kokomo, IN?
For the typical household, earning $55,360 a year ($4,613 a month, Census ACS), a two-bedroom at $1,123 takes 24.3% of income. Under 30% is the usual line for affordable; this is under it.
How is the income needed for rent worked out?
Rent for a year divided by 0.30, the share of gross income HUD treats as affordable: ($1,123 × 12) ÷ 0.30 = $44,920. Divided by 2,080 working hours, that is $21.60 an hour.