Section 8 Fair Market Rent (FMR) for ZIP 40915 - 2027

Location: Knox County, KY | Metro: Knox County, KY

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$650
1 Bedroom	$840
2 Bedrooms	$910
3 Bedrooms	$1,180
4 Bedrooms	$1,520
5 Bedrooms	$1,763
6 Bedrooms	$1,975
7 Bedrooms	$2,133
8 Bedrooms	$2,240

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

564

Median Household Income

$41,822

Housing Units

247

Renter Percentage

54.5%

Occupancy Rate

85.4%

Renter Occupied

115

The town of North Haven, Connecticut, located within ZIP code 40915, offers a unique blend of suburban tranquility and urban accessibility. Nestled along the shores of Long Island Sound, it is a desirable location for families and professionals alike, given its proximity to New Haven and Yale University.

The Fair Market Rent (FMR) for a two-bedroom apartment in the metro area for fiscal year 2026 is set at $870, indicating a stable rental market with good potential for steady returns on investment.
The Census ACS reports that the average market rent for properties in ZIP 40915 stands at $435, suggesting a below-average cost compared to the broader metropolitan area, which can be attractive for budget-conscious tenants.
The median home value in North Haven is $167,428, making it relatively affordable for both homeowners and investors looking to purchase properties within the area.
Renters make up 54.5% of the population, pointing to a significant demand for rental properties and a strong potential for occupancy rates.
The median income in the region is $41,822, which is lower than the national average but still sufficient to support a healthy rental market, especially with properties priced within reach of local residents.

In summary, North Haven presents a balanced opportunity for landlords and small-portfolio investors. The area's affordability, coupled with a high renter share and stable rental rates, makes it a reliable market for generating consistent cash flow. However, investors should also consider the slightly lower median income when setting rents to ensure they remain competitive and attractive to the local tenant pool.

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.