ZIP 47138 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 47138 in the Louisville, KY-IN FMR area.

Louisville, KY-IN

$1,110Efficiency

$1,2001 bedroom

$1,5102 bedrooms

$1,9103 bedrooms

$2,1804 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$1,110	$999	$1,221	$976
1 bedroom	$1,200	$1,080	$1,320	$1,058
2 bedrooms	$1,510	$1,359	$1,661	$1,276
3 bedrooms	$1,910	$1,719	$2,101	$1,629
4 bedrooms	$2,180	$1,962	$2,398	$1,874

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

Jefferson County, IN

$1,110Efficiency

$1,2001 bedroom

$1,5102 bedrooms

$1,9103 bedrooms

$2,1804 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$1,110	$999	$1,221	$752
1 bedroom	$1,200	$1,080	$1,320	$862
2 bedrooms	$1,510	$1,359	$1,661	$1,041
3 bedrooms	$1,910	$1,719	$2,101	$1,313
4 bedrooms	$2,180	$1,962	$2,398	$1,636

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

Scott County, IN

$1,110Efficiency

$1,2001 bedroom

$1,5102 bedrooms

$1,9103 bedrooms

$2,1804 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$1,110	$999	$1,221	$783
1 bedroom	$1,200	$1,080	$1,320	$800
2 bedrooms	$1,510	$1,359	$1,661	$1,047
3 bedrooms	$1,910	$1,719	$2,101	$1,341
4 bedrooms	$2,180	$1,962	$2,398	$1,400

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

Income in ZIP 47138

$61,397average adjusted gross income per tax return (2022)

$44,726average salaries and wages per return

1,980tax returns filed

30%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	29.8%
$25,000 to $50,000	23.7%
$50,000 to $75,000	17.2%
$75,000 to $100,000	11.6%
$100,000 to $200,000	15.2%
$200,000 or more	2.5%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 16.2% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 47138?

HUD's FY2027 Small Area FMRs for ZIP 47138 (Louisville, KY-IN) are $1,110 efficiency, $1,200 one bedroom, $1,510 two bedrooms, $1,910 three and $2,180 four bedrooms.

What payment standard can a housing authority set in ZIP 47138?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,359 to $1,661.

How affordable is rent in ZIP 47138?

Tax returns filed from ZIP 47138 reported an average adjusted gross income of $61,397 (2022). A two-bedroom unit at the Small Area FMR costs $18,120 a year, or 30% of that income.