ZIP 47115 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 47115 in the Louisville, KY-IN FMR area.

Louisville, KY-IN

$780Efficiency

$8401 bedroom

$1,0102 bedrooms

$1,3003 bedrooms

$1,4904 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$780	$702	$858	$976
1 bedroom	$840	$756	$924	$1,058
2 bedrooms	$1,010	$909	$1,111	$1,276
3 bedrooms	$1,300	$1,170	$1,430	$1,629
4 bedrooms	$1,490	$1,341	$1,639	$1,874

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

Washington County, IN

$780Efficiency

$8401 bedroom

$1,0102 bedrooms

$1,3003 bedrooms

$1,4904 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$780	$702	$858	$770
1 bedroom	$840	$756	$924	$775
2 bedrooms	$1,010	$909	$1,111	$1,014
3 bedrooms	$1,300	$1,170	$1,430	$1,222
4 bedrooms	$1,490	$1,341	$1,639	$1,333

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

Income in ZIP 47115

$73,253average adjusted gross income per tax return (2022)

$49,772average salaries and wages per return

1,120tax returns filed

17%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	29.5%
$25,000 to $50,000	23.2%
$50,000 to $75,000	15.2%
$75,000 to $100,000	10.7%
$100,000 to $200,000	17.0%
$200,000 or more	4.5%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 13.4% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 47115?

HUD's FY2027 Small Area FMRs for ZIP 47115 (Louisville, KY-IN) are $780 efficiency, $840 one bedroom, $1,010 two bedrooms, $1,300 three and $1,490 four bedrooms.

What payment standard can a housing authority set in ZIP 47115?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $909 to $1,111.

How affordable is rent in ZIP 47115?

Tax returns filed from ZIP 47115 reported an average adjusted gross income of $73,253 (2022). A two-bedroom unit at the Small Area FMR costs $12,120 a year, or 17% of that income.