ZIP 40447 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 40447 in the Estill County, KY FMR area.

Estill County, KY

$650Efficiency

$7201 bedroom

$9102 bedrooms

$1,1903 bedrooms

$1,2004 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$650	$585	$715	$650
1 bedroom	$720	$648	$792	$835
2 bedrooms	$910	$819	$1,001	$909
3 bedrooms	$1,190	$1,071	$1,309	$1,150
4 bedrooms	$1,200	$1,080	$1,320	$1,383

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

Jackson County, KY

$650Efficiency

$7201 bedroom

$9102 bedrooms

$1,1903 bedrooms

$1,2004 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$650	$585	$715	$650
1 bedroom	$720	$648	$792	$695
2 bedrooms	$910	$819	$1,001	$909
3 bedrooms	$1,190	$1,071	$1,309	$1,190
4 bedrooms	$1,200	$1,080	$1,320	$1,195

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

Lee County, KY

$650Efficiency

$7201 bedroom

$9102 bedrooms

$1,1903 bedrooms

$1,2004 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$650	$585	$715	$712
1 bedroom	$720	$648	$792	$794
2 bedrooms	$910	$819	$1,001	$996
3 bedrooms	$1,190	$1,071	$1,309	$1,187
4 bedrooms	$1,200	$1,080	$1,320	$1,392

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

Owsley County, KY

$650Efficiency

$7201 bedroom

$9102 bedrooms

$1,1903 bedrooms

$1,2004 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$650	$585	$715	$650
1 bedroom	$720	$648	$792	$725
2 bedrooms	$910	$819	$1,001	$909
3 bedrooms	$1,190	$1,071	$1,309	$1,099
4 bedrooms	$1,200	$1,080	$1,320	$1,270

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

Rockcastle County, KY

$650Efficiency

$7201 bedroom

$9102 bedrooms

$1,1903 bedrooms

$1,2004 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$650	$585	$715	$650
1 bedroom	$720	$648	$792	$810
2 bedrooms	$910	$819	$1,001	$909
3 bedrooms	$1,190	$1,071	$1,309	$1,174
4 bedrooms	$1,200	$1,080	$1,320	$1,270

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

Income in ZIP 40447

$47,253average adjusted gross income per tax return (2022)

$37,489average salaries and wages per return

2,470tax returns filed

23%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	37.7%
$25,000 to $50,000	27.1%
$50,000 to $75,000	15.8%
$75,000 to $100,000	9.3%
$100,000 to $200,000	8.9%
$200,000 or more	1.2%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 28.3% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 40447?

HUD's FY2027 Small Area FMRs for ZIP 40447 (Estill County, KY) are $650 efficiency, $720 one bedroom, $910 two bedrooms, $1,190 three and $1,200 four bedrooms.

What payment standard can a housing authority set in ZIP 40447?

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 40447?

Tax returns filed from ZIP 40447 reported an average adjusted gross income of $47,253 (2022). A two-bedroom unit at the Small Area FMR costs $10,920 a year, or 23% of that income.