Location: Washington County, KY | Metro: Boyle County, KY
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 | $650 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $720 | $138,660 | 0.52% | F |
| 2BR | $910 | $168,787 | 0.54% | F |
| 3BR | $1,260 | $259,462 | 0.49% | F |
| 4BR | $1,510 | $338,658 | 0.45% | F |
| 5BR | $1,752 | $439,653 | 0.4% | F |
U.S. Census Bureau data (2024)
Harrodsburg, located in ZIP code 40330, Mercer County, Kentucky, has a population of 21,250 residents. The area stands out due to its unique mix of homeownership and rental rates, with 24.2% of the population renting their homes. The median household income in Harrodsburg is $63,992, which is relatively stable compared to the broader state average. The median home value in the area is $236,000, indicating a moderate level of property investment.
Turning to the voucher economics, the Fair Market Rent (FMR) for Harrodsburg is set at $870 for fiscal year 2026, higher than the current market rent of $824 based on Census ACS data. This suggests that landlords participating in the Section 8 program can expect to receive slightly above-market rents, making it an attractive option for those looking to maintain steady cash flow.
The data signature for ZIP 40330 reads as stable. Despite a significant portion of the population being renters, the median income and home values indicate financial stability among residents. The slight premium in FMR over market rent further supports the notion of stability for landlords and investors. This balance between rental demand and property values provides a solid foundation for long-term investment in the Harrodsburg housing market.
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.