Fair Market Rent · Kentucky
Fair Market Rent in Fayette County, KY
FY2027 HUD figures, effective October 1, 2026, plus what renters pay by ZIP code.
HUD's FY2027 Fair Market Rent for a 2-bedroom home in Fayette County is $1,416 a month, +11.3% from FY2026. Fayette County is part of the Lexington-Fayette, KY MSA (a metro area). HUD also publishes Small Area FMRs by ZIP code here; those can be higher or lower than the area-wide figure. See each ZIP code below.
Area-wide Fair Market Rents
| Size | FY2027 | FY2026 | Change | Typical voucher range (90–110%) |
|---|---|---|---|---|
| Studio | $986 | $883 | +11.7% | $887–1,085 |
| 1 bedroom | $1,205 | $1,079 | +11.7% | $1,084–1,326 |
| 2 bedrooms | $1,416 | $1,272 | +11.3% | $1,274–1,558 |
| 3 bedrooms | $1,948 | $1,743 | +11.8% | $1,753–2,143 |
| 4 bedrooms | $2,108 | $1,940 | +8.7% | $1,897–2,319 |
The voucher range is the typical band housing authorities use for payment standards; your housing authority sets the actual standard.
Rents by ZIP code in Fayette County
Open a ZIP code for every size, the spread of rents and nearby ZIP codes.
| ZIP | Place | 2-bedroom FMR (ZIP) | Census median, 2 bedrooms | Census median, all sizes |
|---|---|---|---|---|
| 40502 | Lexington | $1,370 | $1,188 | $1,089 |
| 40503 | Lexington | $1,450 | $1,238 | $1,168 |
| 40504 | Lexington | $1,190 | $1,020 | $970 |
| 40505 | Lexington | $1,200 | $995 | $925 |
| 40507 | Lexington | $1,230 | $1,710 | $862 |
| 40508 | Lexington | $1,390 | $1,028 | $959 |
| 40509 | Lexington | $1,760 | $1,355 | $1,394 |
| 40510 | Lexington | $1,580 | – | – |
| 40511 | Lexington | $1,560 | $1,068 | $1,302 |
| 40513 | Lexington | $1,800 | $1,457 | $1,416 |
| 40514 | Lexington | $1,980 | $1,635 | $1,629 |
| 40515 | Lexington | $1,690 | $1,328 | $1,361 |
| 40516 | Lexington | $1,390 | $1,125 | $1,114 |
| 40517 | Lexington | $1,490 | $1,112 | $1,136 |
| 40526 | Lexington | $1,390 | – | – |
| 40536 | Lexington | $1,450 | – | – |
Sources: HUD Fair Market Rents and Small Area Fair Market Rents, FY2027 (effective October 1, 2026) and FY2026; U.S. Census Bureau, 2020–2024 American Community Survey 5-year estimates (median gross rent by ZIP code). Fair Market Rents and Census figures include utilities. Not affiliated with HUD or the Census Bureau. About the data.