Kentucky · FIPS 21173 · HUD FY 2027
Montgomery County, Kentucky Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Montgomery County is $1,004 a month (rent plus utilities), 13% below the Kentucky average of $1,155 and 43% below the U.S. average of $1,761. That is up $99 (10.9%) from FY 2026. At 30% of income, a household needs about $40,160 a year to afford it.
- $1,0042-bedroom FMR+$99 (+10.9%) vs FY 2026
- $7671-bedroom FMRKentucky: $946 · U.S.: $1,478
- $40,160Income for a 2-bedroom$19/hour full-time
- 46 of 1202BR rank in Kentucky1 = highest rent
| Unit | Montgomery County FY 2027 | FY 2026 | Change | Kentucky avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $717 | $647 | +$70 (+10.8%) | $854 | $1,379 | $28,680 |
| 1 bedroom | $767 | $690 | +$77 (+11.2%) | $946 | $1,478 | $30,680 |
| 2 bedrooms | $1,004 | $905 | +$99 (+10.9%) | $1,155 | $1,761 | $40,160 |
| 3 bedrooms | $1,314 | $1,194 | +$120 (+10.1%) | $1,500 | $2,266 | $52,560 |
| 4 bedrooms | $1,320 | $1,198 | +$122 (+10.2%) | $1,708 | $2,607 | $52,800 |
How Montgomery County compares
- Montgomery 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: $717, $767, $1,004, $1,314, $1,320. 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 Montgomery County (by land area), the 2-bedroom figure ranges from $970 to $1,150.
Small Area FMRs by ZIP code in Montgomery County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 40337 | $690 | $740 | $970 | $1,270 | $1,310 | +$90 (+10.2%) | 3% below |
| 40353 | $800 | $980 | $1,150 | $1,570 | $1,750 | +$100 (+9.5%) | 15% above |
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.