ZIP 40601 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 40601 in the Lexington-Fayette, KY MSA FMR area.

Lexington-Fayette, KY MSA

$820Efficiency

$9401 bedroom

$1,1802 bedrooms

$1,5103 bedrooms

$1,8704 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$820	$738	$902	$986
1 bedroom	$940	$846	$1,034	$1,205
2 bedrooms	$1,180	$1,062	$1,298	$1,416
3 bedrooms	$1,510	$1,359	$1,661	$1,948
4 bedrooms	$1,870	$1,683	$2,057	$2,108

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

Louisville, KY-IN

$820Efficiency

$9401 bedroom

$1,1802 bedrooms

$1,5103 bedrooms

$1,8704 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$820	$738	$902	$976
1 bedroom	$940	$846	$1,034	$1,058
2 bedrooms	$1,180	$1,062	$1,298	$1,276
3 bedrooms	$1,510	$1,359	$1,661	$1,629
4 bedrooms	$1,870	$1,683	$2,057	$1,874

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

Shelby County, KY

$820Efficiency

$9401 bedroom

$1,1802 bedrooms

$1,5103 bedrooms

$1,8704 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$820	$738	$902	$873
1 bedroom	$940	$846	$1,034	$998
2 bedrooms	$1,180	$1,062	$1,298	$1,149
3 bedrooms	$1,510	$1,359	$1,661	$1,369
4 bedrooms	$1,870	$1,683	$2,057	$1,692

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

Anderson County, KY

$820Efficiency

$9401 bedroom

$1,1802 bedrooms

$1,5103 bedrooms

$1,8704 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$820	$738	$902	$801
1 bedroom	$940	$846	$1,034	$1,020
2 bedrooms	$1,180	$1,062	$1,298	$1,121
3 bedrooms	$1,510	$1,359	$1,661	$1,377
4 bedrooms	$1,870	$1,683	$2,057	$1,566

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

Franklin County, KY

$820Efficiency

$9401 bedroom

$1,1802 bedrooms

$1,5103 bedrooms

$1,8704 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$820	$738	$902	$797
1 bedroom	$940	$846	$1,034	$909
2 bedrooms	$1,180	$1,062	$1,298	$1,145
3 bedrooms	$1,510	$1,359	$1,661	$1,466
4 bedrooms	$1,870	$1,683	$2,057	$1,811

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

Owen County, KY

$820Efficiency

$9401 bedroom

$1,1802 bedrooms

$1,5103 bedrooms

$1,8704 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$820	$738	$902	$730
1 bedroom	$940	$846	$1,034	$781
2 bedrooms	$1,180	$1,062	$1,298	$1,022
3 bedrooms	$1,510	$1,359	$1,661	$1,396
4 bedrooms	$1,870	$1,683	$2,057	$1,428

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

Income in ZIP 40601

$66,079average adjusted gross income per tax return (2022)

$40,672average salaries and wages per return

24,870tax returns filed

21%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	27.6%
$25,000 to $50,000	27.8%
$50,000 to $75,000	16.0%
$75,000 to $100,000	10.4%
$100,000 to $200,000	15.1%
$200,000 or more	3.1%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 16.6% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 40601?

HUD's FY2027 Small Area FMRs for ZIP 40601 (Lexington-Fayette, KY MSA) are $820 efficiency, $940 one bedroom, $1,180 two bedrooms, $1,510 three and $1,870 four bedrooms.

What payment standard can a housing authority set in ZIP 40601?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,062 to $1,298.

How affordable is rent in ZIP 40601?

Tax returns filed from ZIP 40601 reported an average adjusted gross income of $66,079 (2022). A two-bedroom unit at the Small Area FMR costs $14,160 a year, or 21% of that income.