ZIP 40216 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 40216 in the Louisville, KY-IN FMR area.

$820Efficiency
$8901 bedroom
$1,0702 bedrooms
$1,3703 bedrooms
$1,5704 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$820$738$902$976
1 bedroom$890$801$979$1,058
2 bedrooms$1,070$963$1,177$1,276
3 bedrooms$1,370$1,233$1,507$1,629
4 bedrooms$1,570$1,413$1,727$1,874

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

Income in ZIP 40216

$44,753average adjusted gross income per tax return (2022)
$36,350average salaries and wages per return
20,440tax returns filed
29%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00033.9%
$25,000 to $50,00033.7%
$50,000 to $75,00017.1%
$75,000 to $100,0007.8%
$100,000 to $200,0007.0%
$200,000 or more0.5%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 26.5% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 40216?

HUD's FY2027 Small Area FMRs for ZIP 40216 (Louisville, KY-IN) are $820 efficiency, $890 one bedroom, $1,070 two bedrooms, $1,370 three and $1,570 four bedrooms.

What payment standard can a housing authority set in ZIP 40216?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $963 to $1,177.

How affordable is rent in ZIP 40216?

Tax returns filed from ZIP 40216 reported an average adjusted gross income of $44,753 (2022). A two-bedroom unit at the Small Area FMR costs $12,840 a year, or 29% of that income.