Location: Elizabethtown, KY | Metro: Elizabethtown, KY HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $940 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,650 |
| 4 Bedrooms | $1,960 |
| 5 Bedrooms | $2,274 |
| 6 Bedrooms | $2,547 |
| 7 Bedrooms | $2,751 |
| 8 Bedrooms | $2,889 |
U.S. Census Bureau data (2024)
With a Fair Market Rent (FMR) set at $850 for ZIP 40162 in Rineyville, KY, for fiscal year 2024, landlords can expect a competitive benchmark against which to price their units. The Census American Community Survey reports a market rent of $888, indicating that the local rental market slightly exceeds the government's fair market assessment. Given the median home value of $292,869, it's clear that homeownership is a significant factor in the area, but with a 11.0% renter share, there remains a notable demand for rental properties. Landlords should also note the median income of $84,720, which suggests that tenants have the financial stability to meet rental obligations. However, the lack of data on days on market (DOM) implies either limited turnover or a steady state where rentals are quickly filled once they become available. The 0.2% price-cut share further supports the idea that landlords rarely need to reduce their asking price, maintaining strong pricing power. In conclusion, the combination of a robust median income, a slight premium in market rent over FMR, and low price-cut share makes ZIP 40162 an attractive location for Section 8 participation, ensuring steady occupancy and compliance with housing standards.
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.