ZIP 40056 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 40056 in the Louisville, KY-IN FMR area.

Louisville, KY-IN

$1,190Efficiency
$1,2901 bedroom
$1,5602 bedrooms
$1,9903 bedrooms
$2,2904 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,190$1,071$1,309$976
1 bedroom$1,290$1,161$1,419$1,058
2 bedrooms$1,560$1,404$1,716$1,276
3 bedrooms$1,990$1,791$2,189$1,629
4 bedrooms$2,290$2,061$2,519$1,874

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

Shelby County, KY

$1,190Efficiency
$1,2901 bedroom
$1,5602 bedrooms
$1,9903 bedrooms
$2,2904 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,190$1,071$1,309$873
1 bedroom$1,290$1,161$1,419$998
2 bedrooms$1,560$1,404$1,716$1,149
3 bedrooms$1,990$1,791$2,189$1,369
4 bedrooms$2,290$2,061$2,519$1,692

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

Income in ZIP 40056

$111,302average adjusted gross income per tax return (2022)
$72,286average salaries and wages per return
1,700tax returns filed
17%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00022.9%
$25,000 to $50,00017.1%
$50,000 to $75,00015.9%
$75,000 to $100,00010.0%
$100,000 to $200,00021.2%
$200,000 or more12.9%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 8.2% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 40056?

HUD's FY2027 Small Area FMRs for ZIP 40056 (Louisville, KY-IN) are $1,190 efficiency, $1,290 one bedroom, $1,560 two bedrooms, $1,990 three and $2,290 four bedrooms.

What payment standard can a housing authority set in ZIP 40056?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,404 to $1,716.

How affordable is rent in ZIP 40056?

Tax returns filed from ZIP 40056 reported an average adjusted gross income of $111,302 (2022). A two-bedroom unit at the Small Area FMR costs $18,720 a year, or 17% of that income.