ZIP 40291 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 40291 in the Louisville, KY-IN FMR area.

$1,030Efficiency
$1,1101 bedroom
$1,3402 bedrooms
$1,7103 bedrooms
$1,9704 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,030$927$1,133$976
1 bedroom$1,110$999$1,221$1,058
2 bedrooms$1,340$1,206$1,474$1,276
3 bedrooms$1,710$1,539$1,881$1,629
4 bedrooms$1,970$1,773$2,167$1,874

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

Income in ZIP 40291

$74,309average adjusted gross income per tax return (2022)
$53,426average salaries and wages per return
20,380tax returns filed
22%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00024.0%
$25,000 to $50,00024.4%
$50,000 to $75,00016.7%
$75,000 to $100,00010.9%
$100,000 to $200,00018.8%
$200,000 or more5.0%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 11.9% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 40291?

HUD's FY2027 Small Area FMRs for ZIP 40291 (Louisville, KY-IN) are $1,030 efficiency, $1,110 one bedroom, $1,340 two bedrooms, $1,710 three and $1,970 four bedrooms.

What payment standard can a housing authority set in ZIP 40291?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,206 to $1,474.

How affordable is rent in ZIP 40291?

Tax returns filed from ZIP 40291 reported an average adjusted gross income of $74,309 (2022). A two-bedroom unit at the Small Area FMR costs $16,080 a year, or 22% of that income.