Location: Martin County, KY | Metro: Martin County, KY
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 | $710 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,000 | $76,288 | 1.31% | A |
| 3BR | $1,250 | $130,491 | 0.96% | C |
U.S. Census Bureau data (2024)
The analysis of the Section 8 program in ZIP code 41224, which encompasses Debord, KY, reveals a significant gap between the Fair Market Rent (FMR) and the actual market rent. The FMR for the metro area for fiscal year 2026 is set at $920, while the Census ACS reports the market rent at $664. This means that the FMR is $256 higher than the market rent, representing a 38.5% premium over the current rental market price.
The gap underscores the potential yield for landlords and small-portfolio investors who participate in the Section 8 program. With the FMR being substantially higher than the market rent, voucher tenants can provide a more stable and profitable rental income. Landlords benefit from guaranteed payments at a rate above the local average, reducing the risk of vacancy and ensuring a steady cash flow. In Debord, where only 15.9% of residents are renters, the competition for rental properties is relatively low, making it easier for voucher holders to secure housing.
The median home value in Debord is $124,411, and the median income stands at $38,816. These figures indicate that many residents may struggle to afford homeownership, pushing them towards the rental market. For those who qualify for housing vouchers, the government subsidizes their rent, allowing them to pay only 30% of their income towards housing costs. This subsidy ensures that landlords receive the full FMR amount, even though the tenant pays less than the total rent out-of-pocket.
In conclusion, the premium of $256 or 38.5% over the market rent makes Debord an attractive location for landlords interested in maximizing their returns through the Section 8 program. The program effectively bridges the affordability gap for low-income renters, while also providing a reliable and above-average rental income for property owners.
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.