ZIP 47162 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 47162 in the Louisville, KY-IN FMR area.

$960Efficiency
$1,0401 bedroom
$1,2502 bedrooms
$1,6003 bedrooms
$1,8404 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$960$864$1,056$976
1 bedroom$1,040$936$1,144$1,058
2 bedrooms$1,250$1,125$1,375$1,276
3 bedrooms$1,600$1,440$1,760$1,629
4 bedrooms$1,840$1,656$2,024$1,874

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

Income in ZIP 47162

$58,589average adjusted gross income per tax return (2022)
$45,136average salaries and wages per return
440tax returns filed
26%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00027.3%
$25,000 to $50,00031.8%
$50,000 to $75,00013.6%
$75,000 to $100,00011.4%
$100,000 to $200,00015.9%
$200,000 or more0.0%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 15.9% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 47162?

HUD's FY2027 Small Area FMRs for ZIP 47162 (Louisville, KY-IN) are $960 efficiency, $1,040 one bedroom, $1,250 two bedrooms, $1,600 three and $1,840 four bedrooms.

What payment standard can a housing authority set in ZIP 47162?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,125 to $1,375.

How affordable is rent in ZIP 47162?

Tax returns filed from ZIP 47162 reported an average adjusted gross income of $58,589 (2022). A two-bedroom unit at the Small Area FMR costs $15,000 a year, or 26% of that income.