Section 8 Fair Market Rent (FMR) for ZIP 41031 - 2027

Location: Robertson County, KY | Metro: Lexington-Fayette, KY MSA

Investment Score for ZIP 41031

F
Monthly Rent (2BR)
$1,150
Median Price (2BR)
$198,340
1% Rule
0.58%
Annual Yield
6.96%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size Monthly FMR
Studio$800
1 Bedroom$980
2 Bedrooms$1,150
3 Bedrooms$1,570
4 Bedrooms$1,750
5 Bedrooms$2,030
6 Bedrooms$2,274
7 Bedrooms$2,456
8 Bedrooms$2,579

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms Monthly FMR Median Price 1% Rule Grade
2BR $1,150 $198,340 0.58% F
3BR $1,570 $275,719 0.57% F
4BR $1,750 $357,466 0.49% F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population
16,624
Median Household Income
$64,883
Housing Units
7,114
Renter Percentage
29.8%
Occupancy Rate
89.7%
Renter Occupied
1,900

A landlord considering ZIP 41031 (Cynthiana, KY) for Section 8 investments must evaluate several factors to make an informed decision. The first step involves understanding whether the Fair Market Rent (FMR) of $930 can cover the debt service on a property valued at $241,738. To determine this, calculate the monthly debt service. Assuming a typical mortgage rate and a 30-year term, the monthly debt service would be around $1,080. Given that the FMR is $930, it does not clear the debt service, leading to a No on this front.

If the FMR were sufficient, the next question is whether the market rent of $768 (as per Census ACS) is above, at, or below the FMR. In this case, the market rent is below the FMR, which means landlords could potentially benefit from the higher FMR rates if they qualify for Section 8 tenancy. However, since the FMR does not cover the debt service, this consideration is secondary.

The final factor to consider is demand. With 29.8% of residents being renters and no data available on the number of days properties remain on the market (DOM), the demand analysis is incomplete. Generally, a higher percentage of renters suggests a stronger demand for rental properties. However, without DOM data, it's difficult to assess how quickly properties are rented out. This leads to a cautious It Depends.

To summarize, for ZIP 41031:

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.