ZIP 40387 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 40387 in the Menifee County, KY FMR area.

Menifee County, KY

$650Efficiency

$7301 bedroom

$9102 bedrooms

$1,1703 bedrooms

$1,2804 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$650	$585	$715	$650
1 bedroom	$730	$657	$803	$725
2 bedrooms	$910	$819	$1,001	$909
3 bedrooms	$1,170	$1,053	$1,287	$1,162
4 bedrooms	$1,280	$1,152	$1,408	$1,270

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

Morgan County, KY

$650Efficiency

$7301 bedroom

$9102 bedrooms

$1,1703 bedrooms

$1,2804 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$650	$585	$715	$650
1 bedroom	$730	$657	$803	$739
2 bedrooms	$910	$819	$1,001	$909
3 bedrooms	$1,170	$1,053	$1,287	$1,256
4 bedrooms	$1,280	$1,152	$1,408	$1,503

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

Income in ZIP 40387

$44,774average adjusted gross income per tax return (2022)

$33,593average salaries and wages per return

730tax returns filed

24%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	38.4%
$25,000 to $50,000	30.1%
$50,000 to $75,000	15.1%
$75,000 to $100,000	8.2%
$100,000 to $200,000	8.2%
$200,000 or more	0.0%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 28.8% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 40387?

HUD's FY2027 Small Area FMRs for ZIP 40387 (Menifee County, KY) are $650 efficiency, $730 one bedroom, $910 two bedrooms, $1,170 three and $1,280 four bedrooms.

What payment standard can a housing authority set in ZIP 40387?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $819 to $1,001.

How affordable is rent in ZIP 40387?

Tax returns filed from ZIP 40387 reported an average adjusted gross income of $44,774 (2022). A two-bedroom unit at the Small Area FMR costs $10,920 a year, or 24% of that income.