ZIP 41332 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 41332 in the Magoffin County, KY FMR area.

Magoffin County, KY

$650Efficiency

$7501 bedroom

$9102 bedrooms

$1,2203 bedrooms

$1,4304 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$650	$585	$715	$650
1 bedroom	$750	$675	$825	$835
2 bedrooms	$910	$819	$1,001	$909
3 bedrooms	$1,220	$1,098	$1,342	$1,083
4 bedrooms	$1,430	$1,287	$1,573	$1,270

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

Morgan County, KY

$650Efficiency

$7501 bedroom

$9102 bedrooms

$1,2203 bedrooms

$1,4304 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$650	$585	$715	$650
1 bedroom	$750	$675	$825	$739
2 bedrooms	$910	$819	$1,001	$909
3 bedrooms	$1,220	$1,098	$1,342	$1,256
4 bedrooms	$1,430	$1,287	$1,573	$1,503

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

Wolfe County, KY

$650Efficiency

$7501 bedroom

$9102 bedrooms

$1,2203 bedrooms

$1,4304 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$650	$585	$715	$650
1 bedroom	$750	$675	$825	$774
2 bedrooms	$910	$819	$1,001	$909
3 bedrooms	$1,220	$1,098	$1,342	$1,133
4 bedrooms	$1,430	$1,287	$1,573	$1,270

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

Income in ZIP 41332

$51,287average adjusted gross income per tax return (2022)

$40,546average salaries and wages per return

390tax returns filed

21%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	35.9%
$25,000 to $50,000	28.2%
$50,000 to $75,000	15.4%
$75,000 to $100,000	10.3%
$100,000 to $200,000	10.3%
$200,000 or more	0.0%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 25.6% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 41332?

HUD's FY2027 Small Area FMRs for ZIP 41332 (Magoffin County, KY) are $650 efficiency, $750 one bedroom, $910 two bedrooms, $1,220 three and $1,430 four bedrooms.

What payment standard can a housing authority set in ZIP 41332?

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 41332?

Tax returns filed from ZIP 41332 reported an average adjusted gross income of $51,287 (2022). A two-bedroom unit at the Small Area FMR costs $10,920 a year, or 21% of that income.