County FMR · HUD FY2026
Spencer County Fair Market Rent
HUD's FY2026 Fair Market Rent for Spencer County, KY - 9% above the US average.
- $1,047
- 1-bedroom FMR
- $1,272
- 2-bedroom FMR
- -4.3%
- YoY change
- +9%
- vs US avg
The verdict
Spencer is the 10th most expensive of 120 counties in Kentucky by 2-bedroom FMR.
- #10
- most expensive of 120 in Kentucky (2BR)
- +32%
- vs the state average
- $41,880
- income to afford it (30% rule)
- -4.3%
- YoY, FY2025→2026
Software Developers spend the smallest share of income on rent here (11.8%), while Fast Food and Counter Workers spend the most (46.2%).
FY 2026 HUD Fair Market Rent for Spencer County, KY. Verify with HUD →
Spencer County, Kentucky carries an FY 2026 1-bedroom Fair Market Rent of $1,047 per month, the federal benchmark HUD publishes for this county. A 2-bedroom costs $1,272/mo and a studio is $966/mo. That's 9% above the national benchmark of $959 and 32% above the Kentucky average of $794.
Rent decreased4.3% from FY 2025 ($1,094), declining against the trend. To afford rent here, a household needs at least $41,880/year based on the 30% affordability rule.
FY 2026 HUD Fair Market Rents in Kentucky. Population: 19,549. Population grew 8.9% over the past five years (Census ACS) - among the faster-growing counties nationally, a trend that typically adds upward pressure on rents. That's faster than Kentucky's statewide growth of +1.6% over the same period.
What these rents mean for Spencer County
The Spencer County FMR area applies to all ZIP codes inside the county boundary, and Kentucky's housing authorities use it as the baseline for Section 8 Housing Choice Voucher payment standards. See how FMR is calculated for the full 40th-percentile methodology and payment-standard rules.
Compared to the rest of the country, a 1-bedroom here is 9% above the US average of $959 and 32% higher than the Kentucky state average of $794. The 1-bedroom FMR went from$1,094 in FY 2025 to $1,047 in FY 2026 - a change of -4.3%, which is unusual and suggests softening demand or revised HUD sampling.
At the FY 2026 1-bedroom FMR of $1,047, affording it under the 30%-of-income rule takes $41,880 per year (about $3,490/month) in household income, and a 2-bedroom at $1,272 pushes that threshold even higher. With a population of 19,549 and a county median household income of $98,333, the arithmetic here directly shapes which wage earners can rent without being cost-burdened.
Fair Market Rents (2026)
Year-over-Year Comparison
| Bedrooms | FY 2025 | FY 2026 | Change |
|---|---|---|---|
| Studio | $1,003 | $966 | $-37 (-3.7%) |
| 1 Bedroom | $1,094 | $1,047 | $-47 (-4.3%) |
| 2 Bedroom | $1,330 | $1,272 | $-58 (-4.4%) |
| 3 Bedroom | $1,714 | $1,625 | $-89 (-5.2%) |
| 4 Bedroom | $1,989 | $1,891 | $-98 (-4.9%) |
Affordability Snapshot
Based on the standard that rent should not exceed 30% of gross income:
Rent Burden Analysis
How much of household income goes to rent in Spencer County. The 30% threshold indicates cost burden.
How we calculate this
Rent burden = (FMR × 12) ÷ county median household income. Required income = (FMR × 12) ÷ 0.3, the federal 30%-of-gross-income rule HUD uses to define cost burden. Median household income is from the U.S. Census Bureau's American Community Survey; FMR is from HUD's FY2026 release. See methodology.
Spencer County 2-bedroom rent burden
Where Spencer sits among every US county
2-bedroom Fair Market Rent vs. all 3,145 HUD counties
$1,272 Top 26% higher than 74% of 3,145 counties
Each bar is a $0.2K-wide band; taller bars hold more counties. The dashed line + filled bar mark this entry. Hover or tap any bar for its full count, share, and where it sits relative to this entry.
Source U.S. Department of Housing and Urban Development, Fair Market Rents · FY2026
How Spencer compares on 1-bedroom rent
1-bedroom FMR vs other Kentucky counties
- Fayette
Fayette County
$1,079 1BR FMR / mo
- Kenton
Kenton County
$1,051 1BR FMR / mo
- Boone
Boone County
$1,051 1BR FMR / mo
- Spencer
Spencer County
$1,047 1BR FMR / mo
- Jefferson
Jefferson County
$1,047 1BR FMR / mo
- Warren
Warren County
$985 1BR FMR / mo
- Hardin
Hardin County
$846 1BR FMR / mo
What this shows Spencer is highlighted. Nearby Kentucky counties by 1-bedroom FMR, highest to lowest: Fayette County ($1,079), Kenton County ($1,051), Boone County ($1,051), Spencer County (this county) ($1,047), Jefferson County ($1,047), Warren County ($985), Hardin County ($846).
Can Common Jobs Afford Rent Here?
How a 1-bedroom at $1,047/mo compares to Kentucky salaries for popular occupations (BLS wage data, 30%-of-income rule).
| Occupation | KY Salary | Rent Burden | Verdict |
|---|---|---|---|
| Software Developers | $106,200 | 11.8% | Affordable |
| Registered Nurses | $79,910 | 15.7% | Affordable |
| General & Operations Managers | $77,150 | 16.3% | Affordable |
| Accountants & Auditors | $72,220 | 17.4% | Affordable |
| Police & Sheriff's Patrol Officers | $60,230 | 20.9% | Affordable |
| Electricians | $59,490 | 21.1% | Affordable |
| Elementary School Teachers | $57,980 | 21.7% | Affordable |
| Heavy & Tractor-Trailer Truck Drivers | $55,590 | 22.6% | Affordable |
| Paralegals & Legal Assistants | $49,000 | 25.6% | Affordable |
| Pharmacy Technicians | $37,630 | 33.4% | Stretched |
| Customer Service Representatives | $37,580 | 33.4% | Stretched |
| Janitors & Cleaners | $30,470 | 41.2% | Stretched |
| Retail Salespersons | $29,450 | 42.7% | Stretched |
| Teaching Assistants | $29,220 | 43% | Stretched |
| Fast Food & Counter Workers | $27,170 | 46.2% | Stretched |
Rent Trends (2020–2026)
7-year Fair Market Rent history for Spencer County. Shows how HUD rental rates have changed over time.
Over the 6-year span HUD has tracked for Spencer (FY 2020-2026), the 1-bedroom Fair Market Rent has risen 46.8% overall, from $713 to $1,047. The path there hasn't been smooth: year-over-year moves have swung by as much as 22.9% (FY 2024), a volatility pattern that makes single-year comparisons a poor guide to the underlying trend.
| Year | Studio | 1 BR | 2 BR |
|---|---|---|---|
| FY 2026 ↓4.3% | $966 | $1,047 | $1,272 |
| FY 2025 ↑1.6% | $1,003 | $1,094 | $1,330 |
| FY 2024 ↑22.9% | $976 | $1,077 | $1,301 |
| FY 2023 ↑9.5% | $776 | $876 | $1,052 |
| FY 2022 ↑5.3% | $690 | $800 | $960 |
| FY 2021 ↑6.6% | $649 | $760 | $918 |
| FY 2020 | $614 | $713 | $872 |
Part of the Louisville/Jefferson County, KY-IN Metro Area
Spencer County is a outlying county of the Louisville/Jefferson County, KY-IN metropolitan statistical area, alongside 11 other metro-area counties.
Spencer County ranks #8 of 12 counties in this metro area by 1-bedroom FMR. Every county sharing this metro, highest to lowest: Jefferson County ($1,047), Clark County ($1,047), Bullitt County ($1,047), Floyd County ($1,047), Oldham County ($1,047), Harrison County ($1,047), Henry County ($1,047), Spencer County (this county) ($1,047), Shelby County ($1,027), Meade County ($819), Nelson County ($781), Washington County ($753).
Nearby Counties in Kentucky
Largest counties by population in Kentucky
Frequently Asked Questions
What is the average rent in Spencer County? ▼
How does Spencer County rent compare to the national average? ▼
What income do I need to afford rent in Spencer County? ▼
Is rent going up or down in Spencer County? ▼
Which jobs can afford rent in Spencer County? ▼
How much has rent changed in Spencer County over time? ▼
How does Fair Market Rent affect Section 8 vouchers in Spencer County? ▼
What does Fair Market Rent mean for Spencer County? ▼
What this means for renters
Treat Spencer's FY2026 Fair Market Rent as HUD's affordability benchmark, not a market quote.
- Budget to roughly 30% of income: the FY2026 1-bedroom FMR of $1,047 implies about $41,880/yr to rent without being cost-burdened. Run your numbers
- Compare this county against nearby metros and states before signing a lease. Compare areas
- See where it sits on the national rent map. View rankings
Fair Market Rent is HUD's 40th-percentile policy benchmark used to set Housing Choice Voucher payment standards. Actual asking rents in Spencer can run higher or lower, and HUD updates FMRs once a year. This page is informational and not financial or relocation advice.
Disclaimer: This information is provided for informational purposes only and does not constitute professional advice. Data is sourced from the U.S. Census Bureau and HUD Fair Market Rents. Consult a qualified professional before making decisions based on this data.
Every figure on PlainRent is rendered directly from HUD's published Fair Market Rent records, no number is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error. Data current as of FY 2026.