ZIP 40988 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 40988 in the Bell County, KY FMR area.

Bell County, KY

$650Efficiency

$7801 bedroom

$9102 bedrooms

$1,1503 bedrooms

$1,3204 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$650	$585	$715	$633
1 bedroom	$780	$702	$858	$787
2 bedrooms	$910	$819	$1,001	$909
3 bedrooms	$1,150	$1,035	$1,265	$1,133
4 bedrooms	$1,320	$1,188	$1,452	$1,352

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

Harlan County, KY

$650Efficiency

$7801 bedroom

$9102 bedrooms

$1,1503 bedrooms

$1,3204 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$650	$585	$715	$691
1 bedroom	$780	$702	$858	$749
2 bedrooms	$910	$819	$1,001	$909
3 bedrooms	$1,150	$1,035	$1,265	$1,190
4 bedrooms	$1,320	$1,188	$1,452	$1,195

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

Income in ZIP 40988

$33,600average adjusted gross income per tax return (2022)

$28,280average salaries and wages per return

150tax returns filed

33%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	46.7%
$25,000 to $50,000	26.7%
$50,000 to $75,000	26.7%
$75,000 to $100,000	0.0%
$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. 40.0% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 40988?

HUD's FY2027 Small Area FMRs for ZIP 40988 (Bell County, KY) are $650 efficiency, $780 one bedroom, $910 two bedrooms, $1,150 three and $1,320 four bedrooms.

What payment standard can a housing authority set in ZIP 40988?

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 40988?

Tax returns filed from ZIP 40988 reported an average adjusted gross income of $33,600 (2022). A two-bedroom unit at the Small Area FMR costs $10,920 a year, or 33% of that income.