ZIP 40007 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 40007 in the Louisville, KY-IN FMR area.

$1,060Efficiency
$1,1701 bedroom
$1,3902 bedrooms
$1,7403 bedrooms
$2,0404 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,060$954$1,166$976
1 bedroom$1,170$1,053$1,287$1,058
2 bedrooms$1,390$1,251$1,529$1,276
3 bedrooms$1,740$1,566$1,914$1,629
4 bedrooms$2,040$1,836$2,244$1,874

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Income in ZIP 40007

$53,636average adjusted gross income per tax return (2022)
$35,009average salaries and wages per return
110tax returns filed
31%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00027.3%
$25,000 to $50,00045.5%
$50,000 to $75,0000.0%
$75,000 to $100,00027.3%
$100,000 to $200,0000.0%
$200,000 or more0.0%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 0.0% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 40007?

HUD's FY2027 Small Area FMRs for ZIP 40007 (Louisville, KY-IN) are $1,060 efficiency, $1,170 one bedroom, $1,390 two bedrooms, $1,740 three and $2,040 four bedrooms.

What payment standard can a housing authority set in ZIP 40007?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,251 to $1,529.

How affordable is rent in ZIP 40007?

Tax returns filed from ZIP 40007 reported an average adjusted gross income of $53,636 (2022). A two-bedroom unit at the Small Area FMR costs $16,680 a year, or 31% of that income.