ZIP 47147 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 47147 in the Louisville, KY-IN FMR area.

Louisville, KY-IN

$890Efficiency

$9501 bedroom

$1,1702 bedrooms

$1,4903 bedrooms

$1,6704 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$890	$801	$979	$976
1 bedroom	$950	$855	$1,045	$1,058
2 bedrooms	$1,170	$1,053	$1,287	$1,276
3 bedrooms	$1,490	$1,341	$1,639	$1,629
4 bedrooms	$1,670	$1,503	$1,837	$1,874

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

Jefferson County, IN

$890Efficiency

$9501 bedroom

$1,1702 bedrooms

$1,4903 bedrooms

$1,6704 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$890	$801	$979	$752
1 bedroom	$950	$855	$1,045	$862
2 bedrooms	$1,170	$1,053	$1,287	$1,041
3 bedrooms	$1,490	$1,341	$1,639	$1,313
4 bedrooms	$1,670	$1,503	$1,837	$1,636

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

Scott County, IN

$890Efficiency

$9501 bedroom

$1,1702 bedrooms

$1,4903 bedrooms

$1,6704 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$890	$801	$979	$783
1 bedroom	$950	$855	$1,045	$800
2 bedrooms	$1,170	$1,053	$1,287	$1,047
3 bedrooms	$1,490	$1,341	$1,639	$1,341
4 bedrooms	$1,670	$1,503	$1,837	$1,400

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

Income in ZIP 47147

$65,085average adjusted gross income per tax return (2022)

$47,212average salaries and wages per return

480tax returns filed

22%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	25.0%
$25,000 to $50,000	22.9%
$50,000 to $75,000	20.8%
$75,000 to $100,000	12.5%
$100,000 to $200,000	18.8%
$200,000 or more	0.0%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 10.4% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 47147?

HUD's FY2027 Small Area FMRs for ZIP 47147 (Louisville, KY-IN) are $890 efficiency, $950 one bedroom, $1,170 two bedrooms, $1,490 three and $1,670 four bedrooms.

What payment standard can a housing authority set in ZIP 47147?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,053 to $1,287.

How affordable is rent in ZIP 47147?

Tax returns filed from ZIP 47147 reported an average adjusted gross income of $65,085 (2022). A two-bedroom unit at the Small Area FMR costs $14,040 a year, or 22% of that income.