Location: Martin County, KY | Metro: Martin County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,130 |
| 4 Bedrooms | $1,270 |
| 5 Bedrooms | $1,473 |
| 6 Bedrooms | $1,650 |
| 7 Bedrooms | $1,782 |
| 8 Bedrooms | $1,871 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 41203 in fiscal year 2026 is set at $870. This figure represents the maximum amount that the U.S. Department of Housing and Urban Development (HUD) will pay to landlords through the Section 8 program for a unit in this area. It's important to note that this is not the rent you can charge your tenant; it's the reimbursement limit from the government.
To put this into perspective, the local median rent for similar units in ZIP 41203 is currently listed as N/A. This means there isn't enough data to provide an accurate comparison between the FMR and typical market rents. However, the 0.0% renter share indicates that there is a significant demand for affordable housing in this area, making Section 8 properties attractive to potential tenants.
The acquisition cost for properties in ZIP 41203 is also listed as N/A, which suggests that there might be limited recent sales data available. This could imply that the market for buying rental properties is less active, possibly due to economic conditions or other factors affecting the area.
Before proceeding with a Section 8 rental property in ZIP 41203, it is crucial to verify that the unit meets HUD's housing quality standards (HQS). These standards ensure that the property is safe, decent, and sanitary for tenants. Failure to meet these criteria can result in penalties or termination of the contract, so it's essential to conduct a thorough inspection and any necessary repairs before submitting your property for approval.
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.