Location: Pike County, KY | Metro: Pike 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 | $770 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,840 |
| 5 Bedrooms | $2,134 |
| 6 Bedrooms | $2,390 |
| 7 Bedrooms | $2,581 |
| 8 Bedrooms | $2,710 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,110 | $76,480 | 1.45% | A |
| 3BR | $1,320 | $122,276 | 1.08% | B |
| 4BR | $1,840 | $151,411 | 1.22% | A |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 41572, which includes Virgie, Kentucky, is set at $950 for the fiscal year 2026. This figure represents the payment standard used by the U.S. Department of Housing and Urban Development (HUD) for Section 8 housing vouchers. It does not mean that tenants will pay exactly $950; rather, it's the maximum amount that HUD will reimburse landlords for renting a unit under the program.
To put this into perspective, the average rent for a two-bedroom apartment in ZIP 41572 is currently $935 according to recent Census Bureau American Community Survey (ACS) data. This indicates that the FMR aligns closely with the actual market conditions, providing a fair reimbursement rate for landlords participating in Section 8.
With 11.6% of residents being renters, there is a consistent demand for rental properties in this area. This percentage suggests that nearly one in every eight people in the area are looking for a place to rent, making it a stable market for those considering their first Section 8 rental.
The median household income in ZIP 41572 is $92,740. This figure can help you understand the economic landscape and inform your decision on the price point of the property you might acquire. While the median income is higher than the FMR, it reflects the broader economic context and may influence the type of properties that are most suitable for Section 8 tenants.
Before proceeding with a Section 8 rental, ensure that your property meets all the necessary inspection criteria. HUD requires that all units leased under the Section 8 program pass a thorough inspection to meet health and safety standards. This verification step is crucial as it directly affects your eligibility to participate in the program.
In summary, the FMR of $950 for ZIP 41572 provides a clear benchmark for reimbursement, aligning well with the current market rate of $935. The 11.6% renter share indicates a steady demand for rentals, while the median income of $92,740 gives insight into the local economy. However, the key to successfully entering the Section 8 rental market is ensuring your property passes the required inspections.
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.