Location: Marion County, KY | Metro: Elizabethtown, KY 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 | $760 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,330 |
| 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 | $1,330 | $316,104 | 0.42% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 40052 in fiscal year 2024 is set at $880. This figure represents the payment standard under the Section 8 Housing Choice Voucher program, meaning that if you participate in this program, your rental property will be reimbursed up to $880 per month for a standard unit. It's important to note that this is not the amount tenants will pay; they typically contribute 30% to 40% of their income toward rent.
In ZIP 40052, there is currently no specific local rent amount listed, which suggests that the FMR of $880 is likely to be the primary benchmark for rental rates in this area. The FMR serves as a guideline for setting maximum rents and is used to ensure that housing costs remain affordable for low-income families.
The 12.9% renter share indicates that nearly 13% of households in this area are renters, signaling a steady demand for rental properties. However, the high percentage of renters also implies competition among landlords, so it's crucial to ensure your property meets the necessary standards to attract tenants.
If you're looking to acquire a property in this ZIP code, the median home value stands at $246,236. This figure can help you estimate the potential investment cost and compare it against the expected rental income. While the FMR of $880 per month might seem modest compared to the acquisition cost, it's important to consider the stability and long-term benefits of having a guaranteed income stream through the Section 8 program.
Before making a final decision, verify that your property complies with the Housing Quality Standards (HQS). These standards ensure that the property is safe, decent, and sanitary for tenants. Meeting these criteria is essential for approval under the Section 8 program and will help you avoid any costly surprises down the line.
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.