Location: Anderson County, KY | Metro: Louisville, KY-IN HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,370 | $302,721 | 0.45% | F |
U.S. Census Bureau data (2024)
The ZIP code 40046 is not predominantly a renter-heavy area. With only 11.3% of the population renting, it indicates that homeownership is more prevalent. The median household income stands at $66,000, which provides a baseline for understanding the financial capabilities of potential tenants.
To assess the depth of voucher demand, we must compare the local market rent to the Fair Market Rent (FMR), which is set at $1080 for FY 2024. Unfortunately, specific market rent figures for ZIP 40046 are not available, making it challenging to provide an exact percentage of local income that goes towards rent. However, based on the FMR, we can infer that typical rents would consume a significant portion of the median income, potentially around 20% if the market rent aligns closely with the FMR.
Landlords in ZIP 40046 should expect a tenant profile that includes individuals who are likely to rely on housing vouchers due to the economic realities faced by many residents. Given the FMR and the median income, these tenants would be seeking affordable housing options, often with rents below or near the FMR threshold. This suggests that while there may not be an overwhelming number of voucher holders, those who do exist will be an important part of the rental market.
In summary, ZIP 40046 is not characterized by a high concentration of renters, but the presence of some voucher-dependent tenants is expected. Landlords should prepare for a mix of tenants, including those who might need assistance through housing vouchers, ensuring their properties are priced competitively to attract and retain residents within the economic parameters of the area.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.