Kentucky · FIPS 21051 · HUD FY 2027
Clay County, Kentucky Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Clay County is $909 a month (rent plus utilities), 21% below the Kentucky average of $1,155 and 48% below the U.S. average of $1,761. That is up $43 (5.0%) from FY 2026. At 30% of income, a household needs about $36,360 a year to afford it.
- $9092-bedroom FMR+$43 (+5.0%) vs FY 2026
- $8351-bedroom FMRKentucky: $946 · U.S.: $1,478
- $36,360Income for a 2-bedroom$17/hour full-time
- 66 of 1202BR rank in Kentucky1 = highest rent
| Unit | Clay County FY 2027 | FY 2026 | Change | Kentucky avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $650 | $662 | −$12 (−1.8%) | $854 | $1,379 | $26,000 |
| 1 bedroom | $835 | $759 | +$76 (+10.0%) | $946 | $1,478 | $33,400 |
| 2 bedrooms | $909 | $866 | +$43 (+5.0%) | $1,155 | $1,761 | $36,360 |
| 3 bedrooms | $1,254 | $1,176 | +$78 (+6.6%) | $1,500 | $2,266 | $50,160 |
| 4 bedrooms | $1,270 | $1,308 | −$38 (−2.9%) | $1,708 | $2,607 | $50,800 |
How Clay County compares
- Clay County is a non-metro county, so HUD sets one Fair Market Rent for the whole county.
- Across Kentucky, 2-bedroom FMRs run from $909 (Wolfe County) to $1,442 (Boone County).
- Studio to 4-bedroom: $650, $835, $909, $1,254, $1,270. HUD derives the other sizes from the 2-bedroom figure with fixed ratios, adjusted where local data warrant.
- HUD also publishes ZIP-level Small Area FMRs. For the 4 ZIP codes mostly in Clay County (by land area), the 2-bedroom figure ranges from $910 to $920.
Small Area FMRs by ZIP code in Clay County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 40914 | $650 | $840 | $910 | $1,260 | $1,270 | +$40 (+4.6%) | about the same as |
| 40941 | $660 | $840 | $920 | $1,270 | $1,280 | +$30 (+3.4%) | 1% above |
| 40962 | $660 | $840 | $920 | $1,270 | $1,310 | +$30 (+3.4%) | 1% above |
| 40972 | $650 | $840 | $910 | $1,260 | $1,270 | +$40 (+4.6%) | about the same as |
Sources
- U.S. Department of Housing and Urban Development, HUD User Fair Market Rents: FY 2027 FMRs (file dated August 26, 2026) and FY 2026 FMRs (file dated April 21, 2026).
- HUD User Small Area Fair Market Rents: FY 2027 SAFMRs (file dated August 31, 2026) and FY 2026 SAFMRs (file dated April 21, 2026).
- ZIP-to-county assignment: Census Bureau 2020 ZCTA-to-county relationship file (file dated December 9, 2021), largest land-area overlap.
Fair Market Rents are HUD’s estimate of gross rent (rent plus utilities) for a modest unit, set at the 40th percentile of recent-mover rents. FY 2027 is HUD’s fiscal year beginning October 1, 2026. Housing authorities set voucher payment standards from these figures; check yours.