ZIP 40243 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 40243 in the Louisville, KY-IN FMR area.

$1,130Efficiency
$1,2301 bedroom
$1,4802 bedrooms
$1,8903 bedrooms
$2,1704 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,130$1,017$1,243$976
1 bedroom$1,230$1,107$1,353$1,058
2 bedrooms$1,480$1,332$1,628$1,276
3 bedrooms$1,890$1,701$2,079$1,629
4 bedrooms$2,170$1,953$2,387$1,874

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

Income in ZIP 40243

$77,723average adjusted gross income per tax return (2022)
$53,560average salaries and wages per return
6,180tax returns filed
23%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00023.0%
$25,000 to $50,00020.9%
$50,000 to $75,00017.8%
$75,000 to $100,00012.0%
$100,000 to $200,00020.7%
$200,000 or more5.7%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 7.9% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 40243?

HUD's FY2027 Small Area FMRs for ZIP 40243 (Louisville, KY-IN) are $1,130 efficiency, $1,230 one bedroom, $1,480 two bedrooms, $1,890 three and $2,170 four bedrooms.

What payment standard can a housing authority set in ZIP 40243?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,332 to $1,628.

How affordable is rent in ZIP 40243?

Tax returns filed from ZIP 40243 reported an average adjusted gross income of $77,723 (2022). A two-bedroom unit at the Small Area FMR costs $17,760 a year, or 23% of that income.