ZIP 40014 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 40014 in the Louisville, KY-IN FMR area.

Louisville, KY-IN

$1,040Efficiency
$1,1301 bedroom
$1,3602 bedrooms
$1,7403 bedrooms
$2,0004 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,040$936$1,144$976
1 bedroom$1,130$1,017$1,243$1,058
2 bedrooms$1,360$1,224$1,496$1,276
3 bedrooms$1,740$1,566$1,914$1,629
4 bedrooms$2,000$1,800$2,200$1,874

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

Shelby County, KY

$1,040Efficiency
$1,1301 bedroom
$1,3602 bedrooms
$1,7403 bedrooms
$2,0004 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,040$936$1,144$873
1 bedroom$1,130$1,017$1,243$998
2 bedrooms$1,360$1,224$1,496$1,149
3 bedrooms$1,740$1,566$1,914$1,369
4 bedrooms$2,000$1,800$2,200$1,692

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

Income in ZIP 40014

$115,140average adjusted gross income per tax return (2022)
$83,427average salaries and wages per return
10,470tax returns filed
14%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00023.1%
$25,000 to $50,00016.4%
$50,000 to $75,00011.4%
$75,000 to $100,0009.1%
$100,000 to $200,00024.9%
$200,000 or more15.1%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 7.0% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 40014?

HUD's FY2027 Small Area FMRs for ZIP 40014 (Louisville, KY-IN) are $1,040 efficiency, $1,130 one bedroom, $1,360 two bedrooms, $1,740 three and $2,000 four bedrooms.

What payment standard can a housing authority set in ZIP 40014?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,224 to $1,496.

How affordable is rent in ZIP 40014?

Tax returns filed from ZIP 40014 reported an average adjusted gross income of $115,140 (2022). A two-bedroom unit at the Small Area FMR costs $16,320 a year, or 14% of that income.