Section 8 Fair Market Rent (FMR) for ZIP 40003 - 2027

Location: Franklin County, KY | Metro: Shelby County, KY HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$940
1 Bedroom	$1,020
2 Bedrooms	$1,210
3 Bedrooms	$1,500
4 Bedrooms	$1,840
5 Bedrooms	$2,134
6 Bedrooms	$2,390
7 Bedrooms	$2,581
8 Bedrooms	$2,710

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,807

Median Household Income

$97,681

Housing Units

769

Renter Percentage

5.3%

Occupancy Rate

98.8%

Renter Occupied

Housing Authorities Serving ZIP 40003

Kentucky Housing Corporation-State Agency (Frankfort, KY) - 6,221 Section 8 vouchers
Housing Authority of Frankfort (Frankfort, KY) - 484 Section 8 vouchers
Housing Authority of Shelbyville (Shelbyville, KY)

Data Sources: FMR data from HUD (2027). 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.