Kentucky · FIPS 21067 · HUD FY 2027
Fayette County, Kentucky Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Fayette County is $1,416 a month (rent plus utilities), 23% above the Kentucky average of $1,155 and 20% below the U.S. average of $1,761. That is up $144 (11.3%) from FY 2026. At 30% of income, a household needs about $56,640 a year to afford it.
- $1,4162-bedroom FMR+$144 (+11.3%) vs FY 2026
- $1,2051-bedroom FMRKentucky: $946 · U.S.: $1,478
- $56,640Income for a 2-bedroom$27/hour full-time
- 7 of 1202BR rank in Kentucky1 = highest rent
| Unit | Fayette County FY 2027 | FY 2026 | Change | Kentucky avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $986 | $883 | +$103 (+11.7%) | $854 | $1,379 | $39,440 |
| 1 bedroom | $1,205 | $1,079 | +$126 (+11.7%) | $946 | $1,478 | $48,200 |
| 2 bedrooms | $1,416 | $1,272 | +$144 (+11.3%) | $1,155 | $1,761 | $56,640 |
| 3 bedrooms | $1,948 | $1,743 | +$205 (+11.8%) | $1,500 | $2,266 | $77,920 |
| 4 bedrooms | $2,108 | $1,940 | +$168 (+8.7%) | $1,708 | $2,607 | $84,320 |
How Fayette County compares
- HUD sets this rent for the Lexington-Fayette, KY metro FMR area, which covers 522,560 residents in 6 counties.
- Across Kentucky, 2-bedroom FMRs run from $909 (Wolfe County) to $1,442 (Boone County).
- Studio to 4-bedroom: $986, $1,205, $1,416, $1,948, $2,108. 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 16 ZIP codes mostly in Fayette County (by land area), the 2-bedroom figure ranges from $1,190 to $1,980.
Small Area FMRs by ZIP code in Fayette County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 40502 | $950 | $1,170 | $1,370 | $1,890 | $2,040 | +$110 (+8.7%) | 3% below |
| 40503 | $1,010 | $1,230 | $1,450 | $2,000 | $2,160 | −$10 (−0.7%) | 2% above |
| 40504 | $830 | $1,010 | $1,190 | $1,640 | $1,770 | −$20 (−1.7%) | 16% below |
| 40505 | $840 | $1,020 | $1,200 | $1,650 | $1,790 | +$90 (+8.1%) | 15% below |
| 40507 | $860 | $1,050 | $1,230 | $1,690 | $1,830 | +$80 (+7.0%) | 13% below |
| 40508 | $970 | $1,180 | $1,390 | $1,910 | $2,070 | +$140 (+11.2%) | 2% below |
| 40509 | $1,230 | $1,500 | $1,760 | $2,420 | $2,620 | +$150 (+9.3%) | 24% above |
| 40510 | $1,100 | $1,340 | $1,580 | $2,170 | $2,350 | +$150 (+10.5%) | 12% above |
| 40511 | $1,090 | $1,330 | $1,560 | $2,150 | $2,320 | +$170 (+12.2%) | 10% above |
| 40513 | $1,250 | $1,530 | $1,800 | $2,480 | $2,680 | +$150 (+9.1%) | 27% above |
| 40514 | $1,380 | $1,690 | $1,980 | $2,720 | $2,950 | +$210 (+11.9%) | 40% above |
| 40515 | $1,180 | $1,440 | $1,690 | $2,330 | $2,520 | +$150 (+9.7%) | 19% above |
| 40516 | $970 | $1,180 | $1,390 | $1,910 | $2,070 | +$90 (+6.9%) | 2% below |
| 40517 | $1,040 | $1,270 | $1,490 | $2,050 | $2,220 | +$100 (+7.2%) | 5% above |
| 40526 | $970 | $1,180 | $1,390 | $1,910 | $2,070 | +$140 (+11.2%) | 2% below |
| 40536 | $1,010 | $1,230 | $1,450 | $2,000 | $2,160 | +$140 (+10.7%) | 2% above |
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.