ZIP 40962 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 40962 in the Clay County, KY FMR area.

Clay County, KY

$660Efficiency

$8401 bedroom

$9202 bedrooms

$1,2703 bedrooms

$1,3104 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$660	$594	$726	$650
1 bedroom	$840	$756	$924	$835
2 bedrooms	$920	$828	$1,012	$909
3 bedrooms	$1,270	$1,143	$1,397	$1,254
4 bedrooms	$1,310	$1,179	$1,441	$1,270

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

Harlan County, KY

$660Efficiency

$8401 bedroom

$9202 bedrooms

$1,2703 bedrooms

$1,3104 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$660	$594	$726	$691
1 bedroom	$840	$756	$924	$749
2 bedrooms	$920	$828	$1,012	$909
3 bedrooms	$1,270	$1,143	$1,397	$1,190
4 bedrooms	$1,310	$1,179	$1,441	$1,195

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

Jackson County, KY

$660Efficiency

$8401 bedroom

$9202 bedrooms

$1,2703 bedrooms

$1,3104 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$660	$594	$726	$650
1 bedroom	$840	$756	$924	$695
2 bedrooms	$920	$828	$1,012	$909
3 bedrooms	$1,270	$1,143	$1,397	$1,190
4 bedrooms	$1,310	$1,179	$1,441	$1,195

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

Knox County, KY

$660Efficiency

$8401 bedroom

$9202 bedrooms

$1,2703 bedrooms

$1,3104 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$660	$594	$726	$650
1 bedroom	$840	$756	$924	$835
2 bedrooms	$920	$828	$1,012	$909
3 bedrooms	$1,270	$1,143	$1,397	$1,179
4 bedrooms	$1,310	$1,179	$1,441	$1,519

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

Laurel County, KY

$660Efficiency

$8401 bedroom

$9202 bedrooms

$1,2703 bedrooms

$1,3104 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$660	$594	$726	$674
1 bedroom	$840	$756	$924	$749
2 bedrooms	$920	$828	$1,012	$943
3 bedrooms	$1,270	$1,143	$1,397	$1,124
4 bedrooms	$1,310	$1,179	$1,441	$1,315

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

Leslie County, KY

$660Efficiency

$8401 bedroom

$9202 bedrooms

$1,2703 bedrooms

$1,3104 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$660	$594	$726	$650
1 bedroom	$840	$756	$924	$774
2 bedrooms	$920	$828	$1,012	$909
3 bedrooms	$1,270	$1,143	$1,397	$1,183
4 bedrooms	$1,310	$1,179	$1,441	$1,270

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

Income in ZIP 40962

$45,085average adjusted gross income per tax return (2022)

$33,762average salaries and wages per return

5,190tax returns filed

24%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	40.3%
$25,000 to $50,000	28.7%
$50,000 to $75,000	13.7%
$75,000 to $100,000	7.9%
$100,000 to $200,000	8.5%
$200,000 or more	1.0%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 33.9% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 40962?

HUD's FY2027 Small Area FMRs for ZIP 40962 (Clay County, KY) are $660 efficiency, $840 one bedroom, $920 two bedrooms, $1,270 three and $1,310 four bedrooms.

What payment standard can a housing authority set in ZIP 40962?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $828 to $1,012.

How affordable is rent in ZIP 40962?

Tax returns filed from ZIP 40962 reported an average adjusted gross income of $45,085 (2022). A two-bedroom unit at the Small Area FMR costs $11,040 a year, or 24% of that income.