ZIP 47122 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 47122 in the Louisville, KY-IN FMR area.

$850Efficiency
$9201 bedroom
$1,1102 bedrooms
$1,4203 bedrooms
$1,6304 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$850$765$935$976
1 bedroom$920$828$1,012$1,058
2 bedrooms$1,110$999$1,221$1,276
3 bedrooms$1,420$1,278$1,562$1,629
4 bedrooms$1,630$1,467$1,793$1,874

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

Income in ZIP 47122

$93,863average adjusted gross income per tax return (2022)
$66,036average salaries and wages per return
5,560tax returns filed
14%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00022.5%
$25,000 to $50,00018.5%
$50,000 to $75,00014.9%
$75,000 to $100,00012.1%
$100,000 to $200,00023.9%
$200,000 or more8.1%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 7.2% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 47122?

HUD's FY2027 Small Area FMRs for ZIP 47122 (Louisville, KY-IN) are $850 efficiency, $920 one bedroom, $1,110 two bedrooms, $1,420 three and $1,630 four bedrooms.

What payment standard can a housing authority set in ZIP 47122?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $999 to $1,221.

How affordable is rent in ZIP 47122?

Tax returns filed from ZIP 47122 reported an average adjusted gross income of $93,863 (2022). A two-bedroom unit at the Small Area FMR costs $13,320 a year, or 14% of that income.