ZIP 40215 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 40215 in the Louisville, KY-IN FMR area.

$930Efficiency
$1,0101 bedroom
$1,2202 bedrooms
$1,5603 bedrooms
$1,7904 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$930$837$1,023$976
1 bedroom$1,010$909$1,111$1,058
2 bedrooms$1,220$1,098$1,342$1,276
3 bedrooms$1,560$1,404$1,716$1,629
4 bedrooms$1,790$1,611$1,969$1,874

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

Income in ZIP 40215

$35,251average adjusted gross income per tax return (2022)
$30,819average salaries and wages per return
8,850tax returns filed
42%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00042.3%
$25,000 to $50,00036.8%
$50,000 to $75,00012.8%
$75,000 to $100,0004.9%
$100,000 to $200,0003.3%
$200,000 or more0.0%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 35.9% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 40215?

HUD's FY2027 Small Area FMRs for ZIP 40215 (Louisville, KY-IN) are $930 efficiency, $1,010 one bedroom, $1,220 two bedrooms, $1,560 three and $1,790 four bedrooms.

What payment standard can a housing authority set in ZIP 40215?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,098 to $1,342.

How affordable is rent in ZIP 40215?

Tax returns filed from ZIP 40215 reported an average adjusted gross income of $35,251 (2022). A two-bedroom unit at the Small Area FMR costs $14,640 a year, or 42% of that income.