FY2027 Small Area FMR · Lexington, KY

ZIP 40510 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 40510 (Lexington, KY) is $1,580 a month, up 10.5% from FY2026. That is 12% above the Lexington-Fayette, KY area-wide FMR of $1,416.

2-bedroom SAFMR$1,580per month ▲ 10.5%

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

Rank in the area5thof 57 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,422

2 BR Small Area FMR$1,580

110% of SAFMR$1,738

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

Studio$1,100▲ 11.1%

1 BR$1,340▲ 10.7%

2 BR$1,580▲ 10.5%

3 BR$2,170▲ 10.7%

4 BR$2,350▲ 7.8%

FY2027 FY2026

Where 40510 sits in the Lexington-Fayette, KY area

Of the 57 ZIP codes HUD lists for the area, 40510 has the 5th 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 $1,580 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	$1,100	$990 – $1,210	$986	$990
1 bedroom	$1,340	$1,206 – $1,474	$1,205	$1,210
2 bedrooms	$1,580	$1,422 – $1,738	$1,416	$1,430
3 bedrooms	$2,170	$1,953 – $2,387	$1,948	$1,960
4 bedrooms	$2,350	$2,115 – $2,585	$2,108	$2,180

A household renting a two-bedroom home at the Small Area FMR of $1,580 needs about $63,200 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 40510 lies mainly in Fayette 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
40504	Lexington	2.9 mi	$1,190
40513	Lexington	3.9 mi	$1,800
40508	Lexington	4.0 mi	$1,390
40536	Lexington	4.9 mi	$1,450
40507	Lexington	5.0 mi	$1,230
40503	Lexington	5.3 mi	$1,450

Questions

What is the Fair Market Rent for ZIP code 40510?

HUD's FY2027 Small Area Fair Market Rents for 40510 are $1,100 (studio), $1,340 (1 BR), $1,580 (2 BR), $2,170 (3 BR) and $2,350 (4 BR) a month.

What is the Section 8 payment standard in 40510?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 40510 that range is $1,422 to $1,738 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 40510?

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.