ZIP 40055 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 40055 in the Louisville, KY-IN FMR area.

Louisville, KY-IN

$1,050Efficiency
$1,1301 bedroom
$1,4002 bedrooms
$1,7503 bedrooms
$2,0304 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,050$945$1,155$976
1 bedroom$1,130$1,017$1,243$1,058
2 bedrooms$1,400$1,260$1,540$1,276
3 bedrooms$1,750$1,575$1,925$1,629
4 bedrooms$2,030$1,827$2,233$1,874

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

Trimble County, KY

$1,050Efficiency
$1,1301 bedroom
$1,4002 bedrooms
$1,7503 bedrooms
$2,0304 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,050$945$1,155$840
1 bedroom$1,130$1,017$1,243$898
2 bedrooms$1,400$1,260$1,540$1,175
3 bedrooms$1,750$1,575$1,925$1,407
4 bedrooms$2,030$1,827$2,233$1,642

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

Income in ZIP 40055

$72,443average adjusted gross income per tax return (2022)
$53,129average salaries and wages per return
990tax returns filed
23%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00023.2%
$25,000 to $50,00023.2%
$50,000 to $75,00014.1%
$75,000 to $100,00012.1%
$100,000 to $200,00023.2%
$200,000 or more4.0%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 11.1% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 40055?

HUD's FY2027 Small Area FMRs for ZIP 40055 (Louisville, KY-IN) are $1,050 efficiency, $1,130 one bedroom, $1,400 two bedrooms, $1,750 three and $2,030 four bedrooms.

What payment standard can a housing authority set in ZIP 40055?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,260 to $1,540.

How affordable is rent in ZIP 40055?

Tax returns filed from ZIP 40055 reported an average adjusted gross income of $72,443 (2022). A two-bedroom unit at the Small Area FMR costs $16,800 a year, or 23% of that income.