FY2027 Small Area FMR · Louisville, KY
ZIP 40209 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 40209 (Louisville, KY) is $1,130 a month, down 1.7% from FY2026. That is 11% below the Louisville, KY-IN area-wide FMR of $1,276.
Payment standard range, 2 bedrooms
Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.
FY2027 FY2026
Where 40209 sits in the Louisville, KY-IN area
Of the 130 ZIP codes HUD lists for the area, 40209 has the 91st highest two-bedroom Small Area FMR. Louisville, KY-IN is one of the 65 metro areas where HUD requires Small Area FMRs for the Housing Choice Voucher program (designated 2023), so local housing agencies must set payment standards from this ZIP code's figure, normally between $1,017 and $1,243 for two bedrooms.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $860 | $774 – $946 | $976 | $870 |
| 1 bedroom | $940 | $846 – $1,034 | $1,058 | $950 |
| 2 bedrooms | $1,130 | $1,017 – $1,243 | $1,276 | $1,150 |
| 3 bedrooms | $1,440 | $1,296 – $1,584 | $1,629 | $1,470 |
| 4 bedrooms | $1,660 | $1,494 – $1,826 | $1,874 | $1,710 |
A household renting a two-bedroom home at the Small Area FMR of $1,130 needs about $45,200 a year to keep housing costs at 30% of income. The area median family income is $99,000 and the 80% low-income limit for four people is $79,200. ZIP code 40209 lies mainly in Jefferson County. See the Louisville, KY-IN metro page for the full income limits table and the household check.
Nearby ZIP codes
Questions
What is the Fair Market Rent for ZIP code 40209?
HUD's FY2027 Small Area Fair Market Rents for 40209 are $860 (studio), $940 (1 BR), $1,130 (2 BR), $1,440 (3 BR) and $1,660 (4 BR) a month.
What is the Section 8 payment standard in 40209?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 40209 that range is $1,017 to $1,243 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 40209?
The FY2026 income limits of the Louisville, KY-IN area apply: median family income $99,000, low-income (80%) limit $79,200 for a family of four.