Shelby County Fair Market Rent

What these rents mean for Shelby County

HUD's FY 2026 Fair Market Rent schedule sets the Shelby County Kentucky 1-bedroom at $1,027, with a studio at $954, 2-bedroom at $1,143, 3-bedroom at $1,417, and 4-bedroom at $1,697. These figures represent the 40th percentile of gross rents — meaning 60% of standard-quality rental units in this HUD area cost more. The Shelby County FMR area applies to all ZIP codes inside the county boundary, and Kentucky's housing authorities use it as the baseline when setting Section 8 Housing Choice Voucher payment standards (typically 90%–110% of FMR).

Compared to the rest of the country, a 1-bedroom here is 7% above the US average of $959 and 29% higher than the Kentucky state average of $794. Year-over-year, the 1-bedroom FMR moved from $1,032 in FY 2025 to $1,027 in FY 2026 — a change of -0.5%, which tracks roughly with broader price trends.

For budgeting, the traditional 30% affordability rule says rent should not exceed 30% of gross household income. At the FY 2026 1-bedroom FMR of $1,027, that implies a household income of $41,080 per year (about $3,423/month) to stay affordable — a 2-bedroom at $1,143 pushes that threshold even higher. With a population of 48,105 and a county median household income of $82,671, the arithmetic here directly shapes which wage earners can rent without being cost-burdened. Rent-burdened households (paying more than 30% of income) and severely burdened households (above 50%) face a sharply higher risk of housing instability, and this county's numbers set the benchmark for assessing that risk.