ZIP 40220 Fair Market Rent FY2027
Small Area Fair Market Rents for ZIP code 40220 in the Louisville, KY-IN FMR area.
Payment standard range
| Unit size | SAFMR | 90% | 110% | Metro FMR |
|---|---|---|---|---|
| Efficiency | $1,100 | $990 | $1,210 | $976 |
| 1 bedroom | $1,190 | $1,071 | $1,309 | $1,058 |
| 2 bedrooms | $1,440 | $1,296 | $1,584 | $1,276 |
| 3 bedrooms | $1,840 | $1,656 | $2,024 | $1,629 |
| 4 bedrooms | $2,110 | $1,899 | $2,321 | $1,874 |
Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.
Income in ZIP 40220
| Adjusted gross income | Share of returns |
|---|---|
| $1 to $25,000 | 24.8% |
| $25,000 to $50,000 | 25.7% |
| $50,000 to $75,000 | 17.7% |
| $75,000 to $100,000 | 11.7% |
| $100,000 to $200,000 | 16.7% |
| $200,000 or more | 3.4% |
IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 12.3% of returns claimed the Earned Income Tax Credit.
Questions and answers
What is the Small Area Fair Market Rent for ZIP code 40220?
HUD's FY2027 Small Area FMRs for ZIP 40220 (Louisville, KY-IN) are $1,100 efficiency, $1,190 one bedroom, $1,440 two bedrooms, $1,840 three and $2,110 four bedrooms.
What payment standard can a housing authority set in ZIP 40220?
Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,296 to $1,584.
How affordable is rent in ZIP 40220?
Tax returns filed from ZIP 40220 reported an average adjusted gross income of $66,453 (2022). A two-bedroom unit at the Small Area FMR costs $17,280 a year, or 26% of that income.