FY2027 Small Area FMR · Banner, KY

ZIP 41603 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 41603 (Banner, KY) is $1,100 a month, up 4.8% from FY2026. That is 19% above the Floyd County, KY area-wide FMR of $925.

2-bedroom SAFMR$1,100per month ▲ 4.8%

Area-wide 2 BR FMR$925Floyd County, KY

Rank in the area8thof 38 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$990

2 BR Small Area FMR$1,100

110% of SAFMR$1,210

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

Studio$790▲ 5.3%

1 BR$840▲ 5.0%

2 BR$1,100▲ 4.8%

3 BR$1,460▲ 13.2%

4 BR$1,480▲ 5.0%

FY2027 FY2026

Where 41603 sits in the Floyd County, KY area

Of the 38 ZIP codes HUD lists for the area, 41603 has the 8th highest two-bedroom Small Area FMR. Floyd County, 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 $925 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,100 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	$790	$711 – $869	$661	$750
1 bedroom	$840	$756 – $924	$707	$800
2 bedrooms	$1,100	$990 – $1,210	$925	$1,050
3 bedrooms	$1,460	$1,314 – $1,606	$1,230	$1,290
4 bedrooms	$1,480	$1,332 – $1,628	$1,246	$1,410

A household renting a two-bedroom home at the Small Area FMR of $1,100 needs about $44,000 a year to keep housing costs at 30% of income. The area median family income is $60,700 and the 80% low-income limit for four people is $57,500. ZIP code 41603 lies mainly in Floyd County. See the Floyd County, KY county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
41601	Allen	2.2 mi	$910
41663	Tram	2.3 mi	$1,230
41615	Dana	2.4 mi	$930
41642	Ivel	3.4 mi	$1,260
41649	Martin	3.9 mi	$1,000
41621	Dwale	4.1 mi	$910

Questions

What is the Fair Market Rent for ZIP code 41603?

HUD's FY2027 Small Area Fair Market Rents for 41603 are $790 (studio), $840 (1 BR), $1,100 (2 BR), $1,460 (3 BR) and $1,480 (4 BR) a month.

What is the Section 8 payment standard in 41603?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 41603 that range is $990 to $1,210 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 41603?

The FY2026 income limits of the Floyd County, KY area apply: median family income $60,700, low-income (80%) limit $57,500 for a family of four.