HUD Fair Market Rent · FY 2026 · effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in Shelby County, Kentucky (FY 2026)
A two-bedroom in Shelby County carries a FY 2026 Fair Market Rent of $1,143 a month, effective October 1, 2025 through September 30, 2026. Everything Section 8 pays in Shelby keys off that figure.
2 bedroom FMR
$1,143
FY 2026, utilities included
Payment standard range
$1,029 to $1,257
90% to 110% of FMR
Income to afford 2BR
$45,720
per year, at 30% of income
Rank in Kentucky
24th of 120
by 2BR FMR
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in Shelby moves to $1,149. That's up 1%. The full FY 2027 table is in the history section below.
HUD's number is one input. What does a two-bedroom in Shelby actually rent for?
Search any address in Shelby for a rent estimate built from nearby comps, with the HUD figure right next to it.
FY 2026 Fair Market Rents
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2025 |
|---|---|---|---|---|---|
| Studio | $954 | $859 to $1,049 | $38,160 | $18.35/hr | +2.7% |
| 1 bedroom | $1,027 | $924 to $1,130 | $41,080 | $19.75/hr | -0.5% |
| 2 bedroom | $1,143 | $1,029 to $1,257 | $45,720 | $21.98/hr | -0.5% |
| 3 bedroom | $1,417 | $1,275 to $1,559 | $56,680 | $27.25/hr | -2.1% |
| 4 bedroom | $1,697 | $1,527 to $1,867 | $67,880 | $32.63/hr | +3.3% |
5 to 8 bedrooms (PropMetrics estimates)
HUD stops at four bedrooms. These add 15% of the four-bedroom rent per extra bedroom. It's our estimate, not a HUD number.
| Bedrooms | Estimated FMR | Payment standard |
|---|---|---|
| 5 bedroom Estimate | $1,952 | $1,757 to $2,147 |
| 6 bedroom Estimate | $2,206 | $1,985 to $2,427 |
| 7 bedroom Estimate | $2,461 | $2,215 to $2,707 |
| 8 bedroom Estimate | $2,715 | $2,444 to $2,987 |
Source: HUD Office of Policy Development and Research, FY 2026 Fair Market Rents. Rents include utilities. huduser.gov
Fair Market Rent is HUD's estimate of what a modest, decent unit rents for in an area, utilities included. It's set once a year and runs October to September. For FY 2026 that's October 1, 2025 through September 30, 2026. In Shelby, that runs from $954 for a studio up to $1,697 for four bedrooms, all five rates in the table above.
Shelby is its own HUD metro area (Shelby County, KY), so the rate here is set from rents inside the county rather than a wider region.
Among Kentucky's 120 counties, Shelby ranks 24th for two-bedroom FMR. That's about 27% above the state median of $900 and about 12% above the national median county at $1,018. About 48,105 people live here, 21st in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,100 in 40076 (Waddy) and $1,380 in 40067 (Simpsonville), with the 6 ZIP codes in between. Housing authorities in HUD-designated metros use those ZIP rates instead of the county rate. Everywhere else the ZIP numbers show where rents actually sit, and the county rate stays the official standard.
What a voucher pays here
The voucher doesn't pay the FMR itself. It pays the payment standard. Housing authorities set it anywhere from 90% to 110% of FMR, which puts a two-bedroom standard in Shelby somewhere between $1,029 and $1,257. The tenant pays roughly 30% of their income, the voucher covers the rest up to the standard, and the PHA won't approve a rent above what comparable unassisted units get.
$1,143 a month is affordable, by HUD's 30% rule, on an income of roughly $45,720 a year. Put another way, $22 an hour full time.
Worked example for a two-bedroom, assuming the rent equals the payment standard. Tenant pays 30% of monthly income, HUD's housing assistance payment covers the rest.
| Monthly household income | Tenant pays (30%) | HAP at 90% ($1,029) | HAP at 100% ($1,143) | HAP at 110% ($1,257) |
|---|---|---|---|---|
| $2,500 | $750 | $279 | $393 | $507 |
| $4,000 | $1,200 | $0 | $0 | $57 |
Rate history
The two-bedroom rate went down 1% from FY 2025 ($1,149) to FY 2026 ($1,143). Since FY 2020 it's up 37% in total, about 5.3% a year. The Kentucky median moved up 3% over the same year.
| Year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $591 | $636 | $837 | $1,135 | $1,333 | — |
| FY 2021 | $612 | $658 | $867 | $1,135 | $1,337 | +3.6% |
| FY 2022 | $641 | $672 | $884 | $1,122 | $1,297 | +2.0% |
| FY 2023 | $691 | $742 | $941 | $1,203 | $1,392 | +6.4% |
| FY 2024 | $862 | $965 | $1,130 | $1,458 | $1,589 | +20.1% |
| FY 2025 | $929 | $1,032 | $1,149 | $1,448 | $1,643 | +1.7% |
| FY 2026 | $954 | $1,027 | $1,143 | $1,417 | $1,697 | -0.5% |
| FY 2027 | $873 | $998 | $1,149 | $1,369 | $1,692 | +0.5% |
Nearby counties
Spencer County
$1,27211 mi · pop 19,549
Henry County
$1,27218 mi · pop 15,731
Franklin County
$1,08319 mi · pop 51,475
Oldham County
$1,27219 mi · pop 67,997
Anderson County
$1,04220 mi · pop 23,839
Jefferson County
$1,27225 mi · pop 779,232
Woodford County
$1,27228 mi · pop 26,886
Bullitt County
$1,27229 mi · pop 82,482
Questions people ask
$1,143 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $954 for a studio, $1,027 for one bedroom, $1,417 for three and $1,697 for four.
Tools for this county
Fair Market Rent lookup
Look up any ZIP code's Small Area FMR by bedroom count.
Section 8 rent calculator
Work out the payment standard and tenant share for a specific rent.
What is Fair Market Rent?
How HUD calculates FMR and what it means for landlords.
Rent affordability calculator
See what income a household needs for a given rent.
What does a rental in Shelby actually go for?
HUD's number is one input. Search any address in Shelby for a rent estimate built from nearby comps. 3 free searches, no card.
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