Kentucky · FIPS 21129 · HUD FY 2027
Lee County, Kentucky Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Lee County is $996 a month (rent plus utilities), 14% below the Kentucky average of $1,155 and 43% below the U.S. average of $1,761. That is up $57 (6.1%) from FY 2026. At 30% of income, a household needs about $39,840 a year to afford it.
- $9962-bedroom FMR+$57 (+6.1%) vs FY 2026
- $7941-bedroom FMRKentucky: $946 · U.S.: $1,478
- $39,840Income for a 2-bedroom$19/hour full-time
- 48 of 1202BR rank in Kentucky1 = highest rent
| Unit | Lee County FY 2027 | FY 2026 | Change | Kentucky avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $712 | $671 | +$41 (+6.1%) | $854 | $1,379 | $28,480 |
| 1 bedroom | $794 | $740 | +$54 (+7.3%) | $946 | $1,478 | $31,760 |
| 2 bedrooms | $996 | $939 | +$57 (+6.1%) | $1,155 | $1,761 | $39,840 |
| 3 bedrooms | $1,187 | $1,126 | +$61 (+5.4%) | $1,500 | $2,266 | $47,480 |
| 4 bedrooms | $1,392 | $1,311 | +$81 (+6.2%) | $1,708 | $2,607 | $55,680 |
How Lee County compares
- Lee 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: $712, $794, $996, $1,187, $1,392. 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 Lee County (by land area), the 2-bedroom figure ranges from $980 to $990.
Small Area FMRs by ZIP code in Lee County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 41311 | $710 | $790 | $990 | $1,180 | $1,380 | +$60 (+6.5%) | 1% below |
| 41397 | $700 | $800 | $980 | $1,180 | $1,360 | +$70 (+7.7%) | 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.