ZIP 40203 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 40203 in the Louisville, KY-IN FMR area.

$790Efficiency
$8501 bedroom
$1,0302 bedrooms
$1,3103 bedrooms
$1,5104 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$790$711$869$976
1 bedroom$850$765$935$1,058
2 bedrooms$1,030$927$1,133$1,276
3 bedrooms$1,310$1,179$1,441$1,629
4 bedrooms$1,510$1,359$1,661$1,874

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

Income in ZIP 40203

$36,525average adjusted gross income per tax return (2022)
$30,164average salaries and wages per return
5,880tax returns filed
34%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00048.8%
$25,000 to $50,00030.8%
$50,000 to $75,00011.2%
$75,000 to $100,0004.3%
$100,000 to $200,0003.9%
$200,000 or more1.0%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 39.3% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 40203?

HUD's FY2027 Small Area FMRs for ZIP 40203 (Louisville, KY-IN) are $790 efficiency, $850 one bedroom, $1,030 two bedrooms, $1,310 three and $1,510 four bedrooms.

What payment standard can a housing authority set in ZIP 40203?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $927 to $1,133.

How affordable is rent in ZIP 40203?

Tax returns filed from ZIP 40203 reported an average adjusted gross income of $36,525 (2022). A two-bedroom unit at the Small Area FMR costs $12,360 a year, or 34% of that income.