FY2027 Small Area FMR · North Middletown, KY

ZIP 40357 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 40357 (North Middletown, KY) is $1,150 a month, up 9.5% from FY2026. That is 19% below the Lexington-Fayette, KY area-wide FMR of $1,416.

2-bedroom SAFMR$1,150per month ▲ 9.5%

Area-wide 2 BR FMR$1,416Lexington-Fayette, KY

Rank in the area48thof 57 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,035

2 BR Small Area FMR$1,150

110% of SAFMR$1,265

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$800▲ 11.1%

1 BR$980▲ 10.1%

2 BR$1,150▲ 9.5%

3 BR$1,570▲ 9.8%

4 BR$1,750▲ 8.7%

FY2027 FY2026

Where 40357 sits in the Lexington-Fayette, KY area

Of the 57 ZIP codes HUD lists for the area, 40357 has the 48th highest two-bedroom Small Area FMR. Lexington-Fayette, KY is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $1,416 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,150 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$800	$720 – $880	$986	$720
1 bedroom	$980	$882 – $1,078	$1,205	$890
2 bedrooms	$1,150	$1,035 – $1,265	$1,416	$1,050
3 bedrooms	$1,570	$1,413 – $1,727	$1,948	$1,430
4 bedrooms	$1,750	$1,575 – $1,925	$2,108	$1,610

A household renting a two-bedroom home at the Small Area FMR of $1,150 needs about $46,000 a year to keep housing costs at 30% of income. The area median family income is $102,100 and the 80% low-income limit for four people is $81,700. ZIP code 40357 lies mainly in Bourbon County. See the Lexington-Fayette, KY metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
40361	Paris	7.8 mi	$1,150
40348	Millersburg	9.9 mi	$1,150
40353	Mount Sterling	10.3 mi	$1,150
40374	Sharpsburg	12.1 mi	$1,150
40391	Winchester	12.3 mi	$1,180
40311	Carlisle	14.2 mi	$1,150

Questions

What is the Fair Market Rent for ZIP code 40357?

HUD's FY2027 Small Area Fair Market Rents for 40357 are $800 (studio), $980 (1 BR), $1,150 (2 BR), $1,570 (3 BR) and $1,750 (4 BR) a month.

What is the Section 8 payment standard in 40357?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 40357 that range is $1,035 to $1,265 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 40357?

The FY2026 income limits of the Lexington-Fayette, KY area apply: median family income $102,100, low-income (80%) limit $81,700 for a family of four.