Section 8 Fair Market Rent (FMR) for ZIP 40724 - 2027

FY 2027 Fair Market Rent Rates

The Fair Market Rent (FMR) for ZIP code 40724 in Unknown, KY, for fiscal year 2026 is set at $880. This figure represents the payment standard for landlords participating in the Section 8 Housing Choice Voucher program. It's important to note that this is not the amount tenants will pay in rent; rather, it's the maximum amount the government will pay towards a tenant's rent subsidy.

Local market rents in ZIP 40724 are currently N/A, which makes direct comparison challenging. However, the FMR serves as a guideline for what the government considers a reasonable rent in the area. If your property's market value exceeds $880, you can charge the difference to the tenant, but they must be able to afford it.

The demand for rental properties in this area is represented by the N/A% of renters, indicating the portion of the population that relies on rental housing. This percentage gives insight into the potential pool of tenants who might benefit from the voucher program, though it does not guarantee occupancy rates.

When acquiring a new property for Section 8, consider the N/A average cost, which reflects the typical price range for homes in ZIP 40724. This should help you understand whether investing in a Section 8 property is financially viable given the expected income from the voucher program.

Before making the final decision to enter the Section 8 market, verify that your property meets all the required standards for participation. These standards include safety, health, and structural criteria, ensuring that the home is suitable for low-income families. Non-compliance can lead to reduced payments or termination of the contract.

Data Sources: FMR data from HUD (2027).

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.