Location: Carroll County, KY | Metro: Cincinnati, OH-KY-IN HUD Metro FMR Area
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 | $790 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,100 | $159,721 | 0.69% | D |
| 3BR | $1,380 | $206,068 | 0.67% | D |
U.S. Census Bureau data (2024)
The ZIP code 41045, located in Ghent, Kentucky, presents an interesting scenario for both renters and landlords alike. The median household income stands at $53,824, which provides a baseline for assessing rental affordability. At a market rate of $870 per month (as reported by the Census ACS), renting becomes a significant portion of a household's budget. However, this figure still represents a substantial financial burden for many residents.
To further contextualize the situation, consider the federal payment standard for housing vouchers, which is set at $1200 per month for FY 2024. This standard is notably higher than the market rate, indicating that voucher recipients have more flexibility when it comes to finding suitable housing. For landlords, accepting voucher tenants can be seen as a way to secure a more stable source of income, given that the government will cover a larger portion of the rent compared to what non-voucher households might pay.
Ghent has a relatively low percentage of renters at 23.5%, with a total population of 1,203. This means that the rental market is somewhat limited, and landlords face competition not only among themselves but also from potential homeowners who might prefer to own rather than rent. The affordability gap between the median income and the market rate rent suggests that there is a segment of the population that struggles to find affordable housing without assistance.
For landlords considering whether to accept voucher tenants or focus on cash-paying residents, the decision should be based on a careful analysis of the local market dynamics. Given the high payment standard relative to the market rate, voucher tenants could provide a reliable stream of income. However, landlords should also be aware that the voucher program has strict guidelines and requirements that must be met, including property standards and rent limits.
The takeaway is that while the market rate of $870 per month is challenging for many residents, the higher voucher payment standard of $1200 offers a compelling alternative. Landlords who are willing to comply with the necessary regulations for accepting vouchers can benefit from a more predictable and stable income, particularly in a market where a significant portion of potential tenants may struggle to afford market rates.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.