ZIP 40940 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 40940 in the Bell County, KY FMR area.

Bell County, KY

$680Efficiency

$7901 bedroom

$9502 bedrooms

$1,1803 bedrooms

$1,3804 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$680	$612	$748	$633
1 bedroom	$790	$711	$869	$787
2 bedrooms	$950	$855	$1,045	$909
3 bedrooms	$1,180	$1,062	$1,298	$1,133
4 bedrooms	$1,380	$1,242	$1,518	$1,352

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

Whitley County, KY

$680Efficiency

$7901 bedroom

$9502 bedrooms

$1,1803 bedrooms

$1,3804 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$680	$612	$748	$690
1 bedroom	$790	$711	$869	$695
2 bedrooms	$950	$855	$1,045	$909
3 bedrooms	$1,180	$1,062	$1,298	$1,129
4 bedrooms	$1,380	$1,242	$1,518	$1,298

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

Income in ZIP 40940

$37,835average adjusted gross income per tax return (2022)

$31,647average salaries and wages per return

170tax returns filed

30%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	41.2%
$25,000 to $50,000	35.3%
$50,000 to $75,000	11.8%
$75,000 to $100,000	11.8%
$100,000 to $200,000	0.0%
$200,000 or more	0.0%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 29.4% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 40940?

HUD's FY2027 Small Area FMRs for ZIP 40940 (Bell County, KY) are $680 efficiency, $790 one bedroom, $950 two bedrooms, $1,180 three and $1,380 four bedrooms.

What payment standard can a housing authority set in ZIP 40940?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $855 to $1,045.

How affordable is rent in ZIP 40940?

Tax returns filed from ZIP 40940 reported an average adjusted gross income of $37,835 (2022). A two-bedroom unit at the Small Area FMR costs $11,400 a year, or 30% of that income.