Kentucky · FIPS 21215 · HUD FY 2027
Spencer County, Kentucky Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Spencer County is $1,276 a month (rent plus utilities), 10% above the Kentucky average of $1,155 and 28% below the U.S. average of $1,761. That is up $4 (0.3%) from FY 2026. At 30% of income, a household needs about $51,040 a year to afford it.
- $1,2762-bedroom FMR+$4 (+0.3%) vs FY 2026
- $1,0581-bedroom FMRKentucky: $946 · U.S.: $1,478
- $51,040Income for a 2-bedroom$25/hour full-time
- 15 of 1202BR rank in Kentucky1 = highest rent
| Unit | Spencer County FY 2027 | FY 2026 | Change | Kentucky avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $976 | $966 | +$10 (+1.0%) | $854 | $1,379 | $39,040 |
| 1 bedroom | $1,058 | $1,047 | +$11 (+1.1%) | $946 | $1,478 | $42,320 |
| 2 bedrooms | $1,276 | $1,272 | +$4 (+0.3%) | $1,155 | $1,761 | $51,040 |
| 3 bedrooms | $1,629 | $1,625 | +$4 (+0.2%) | $1,500 | $2,266 | $65,160 |
| 4 bedrooms | $1,874 | $1,891 | −$17 (−0.9%) | $1,708 | $2,607 | $74,960 |
How Spencer County compares
- HUD sets this rent for the Louisville, KY-IN metro FMR area, which covers 1,217,486 residents in 8 counties.
- Across Kentucky, 2-bedroom FMRs run from $909 (Wolfe County) to $1,442 (Boone County).
- Studio to 4-bedroom: $976, $1,058, $1,276, $1,629, $1,874. 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 Spencer County (by land area), the 2-bedroom figure ranges from $1,090 to $1,110.
Small Area FMRs by ZIP code in Spencer County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 40046 | $810 | $910 | $1,090 | $1,370 | $1,600 | +$10 (+0.9%) | 15% below |
| 40071 | $850 | $920 | $1,110 | $1,420 | $1,630 | −$10 (−0.9%) | 13% 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.