Kentucky · FIPS 21205 · HUD FY 2027
Rowan County, Kentucky Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Rowan County is $977 a month (rent plus utilities), 15% below the Kentucky average of $1,155 and 45% below the U.S. average of $1,761. That is up $66 (7.2%) from FY 2026. At 30% of income, a household needs about $39,080 a year to afford it.
- $9772-bedroom FMR+$66 (+7.2%) vs FY 2026
- $7911-bedroom FMRKentucky: $946 · U.S.: $1,478
- $39,080Income for a 2-bedroom$19/hour full-time
- 51 of 1202BR rank in Kentucky1 = highest rent
| Unit | Rowan County FY 2027 | FY 2026 | Change | Kentucky avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $701 | $628 | +$73 (+11.6%) | $854 | $1,379 | $28,040 |
| 1 bedroom | $791 | $735 | +$56 (+7.6%) | $946 | $1,478 | $31,640 |
| 2 bedrooms | $977 | $911 | +$66 (+7.2%) | $1,155 | $1,761 | $39,080 |
| 3 bedrooms | $1,252 | $1,156 | +$96 (+8.3%) | $1,500 | $2,266 | $50,080 |
| 4 bedrooms | $1,633 | $1,528 | +$105 (+6.9%) | $1,708 | $2,607 | $65,320 |
How Rowan County compares
- Rowan 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: $701, $791, $977, $1,252, $1,633. 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 Rowan County (by land area), the 2-bedroom figure ranges from $940 to $1,150.
Small Area FMRs by ZIP code in Rowan County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 40313 | $830 | $930 | $1,150 | $1,470 | $1,920 | +$130 (+12.7%) | 18% above |
| 40351 | $680 | $760 | $940 | $1,210 | $1,560 | +$50 (+5.6%) | 4% 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.