FMR is below market; voucher rent may lag private rents.
0.72
1 BR
1 BR
0.94ratio
FMR$990
Market$1,050
vs market-$60
FMR is near market; voucher and private rents are aligned.
0.94
2 BR
2 BR
0.84ratio
FMR$1,190
Market$1,420
vs market-$230
FMR is below market; voucher rent may lag private rents.
0.84
3 BR
3 BR
0.84ratio
FMR$1,520
Market$1,800
vs market-$280
FMR is below market; voucher rent may lag private rents.
0.84
4 BR
4 BR
0.70ratio
FMR$1,750
Market$2,510
vs market-$760
FMR is below market; voucher rent may lag private rents.
0.70
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--
ZIP 40129 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 40129 (Hillview, KY) is $1,190 a month. That is down 1.7% from $1,210 in FY 2026. Hillview is in the Louisville, KY-IN HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 14 ZIP codes in Bullitt County, 40129 is tied for the 6th-highest two-bedroom rent (county range $1,010–$1,550). The median county two-bedroom FMR in Kentucky is $925, so ZIP 40129 is 29% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 40129
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$920
$910
−1.1%
$819–$1,001
1BR
$1,000
$990
−1.0%
$891–$1,089
2BR
$1,210
$1,190
−1.7%
$1,071–$1,309
3BR
$1,550
$1,520
−1.9%
$1,368–$1,672
4BR
$1,800
$1,750
−2.8%
$1,575–$1,925
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 40129
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$910
$990
$1,190
$1,520
$1,750
FY 2026
$920
$1,000
$1,210
$1,550
$1,800
FY 2025
$960
$1,040
$1,270
$1,640
$1,900
FY 2024
$940
$1,040
$1,260
$1,650
$1,890
FY 2023
$760
$860
$1,030
$1,370
$1,570
Two-bedroom rent in nearby Bullitt County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 40129?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,190, that basic range is $1,071 to $1,309 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is ZIP 40129 in?
ZIP 40129 is in the Louisville, KY-IN HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.
How much did fair market rent change in ZIP 40129 for FY 2027?
The two-bedroom FMR fell 1.7%, from $1,210 in FY 2026 to $1,190 in FY 2027. Since FY 2023 it has risen 15.5%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set