Kentucky · FIPS 21079 · HUD FY 2027
Garrard County, Kentucky Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Garrard County is $941 a month (rent plus utilities), 19% below the Kentucky average of $1,155 and 47% below the U.S. average of $1,761. That is up $41 (4.6%) from FY 2026. At 30% of income, a household needs about $37,640 a year to afford it.
- $9412-bedroom FMR+$41 (+4.6%) vs FY 2026
- $8641-bedroom FMRKentucky: $946 · U.S.: $1,478
- $37,640Income for a 2-bedroom$18/hour full-time
- 57 of 1202BR rank in Kentucky1 = highest rent
| Unit | Garrard County FY 2027 | FY 2026 | Change | Kentucky avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $672 | $643 | +$29 (+4.5%) | $854 | $1,379 | $26,880 |
| 1 bedroom | $864 | $821 | +$43 (+5.2%) | $946 | $1,478 | $34,560 |
| 2 bedrooms | $941 | $900 | +$41 (+4.6%) | $1,155 | $1,761 | $37,640 |
| 3 bedrooms | $1,232 | $1,156 | +$76 (+6.6%) | $1,500 | $2,266 | $49,280 |
| 4 bedrooms | $1,237 | $1,285 | −$48 (−3.7%) | $1,708 | $2,607 | $49,480 |
How Garrard County compares
- Garrard 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: $672, $864, $941, $1,232, $1,237. 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 2 ZIP codes mostly in Garrard County (by land area), the 2-bedroom figure ranges from $920 to $950.
Small Area FMRs by ZIP code in Garrard County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 40444 | $680 | $870 | $950 | $1,240 | $1,250 | +$50 (+5.6%) | 1% above |
| 40461 | $650 | $820 | $920 | $1,240 | $1,340 | +$50 (+5.7%) | 2% below |
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.