Location: Knott County, KY | Metro: Knott County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 41836, set at $1,120 for metro fiscal year 2026, is the payment standard used by the Section 8 Housing Choice Voucher program. This figure does not represent the actual rent you can charge tenants; rather, it's the maximum amount the government will pay toward a tenant's rent. If your property's rent exceeds this amount, the tenant must make up the difference.
To put this into perspective, the average rent in ZIP 41836 is currently $914 according to recent Census American Community Survey data. This indicates that the FMR is higher than the typical market rent, which could be beneficial if you're seeking to cover costs and generate profit. However, remember that the FMR is not guaranteed income; it is the ceiling for government assistance.
The demand for rental properties in this area is strong, with 40.2% of residents being renters. This high percentage suggests a robust market for rentals, making it likely that you'll find tenants interested in Section 8 vouchers. The median household income in ZIP 41836 is $70,369, which can influence the type of properties you might consider acquiring for a Section 8 rental. Properties should generally be priced below the median income level to ensure they are affordable for voucher recipients.
Before finalizing your decision to participate in the Section 8 program, verify that your property meets all the necessary inspection criteria. The government conducts rigorous inspections to ensure that the homes meet health and safety standards. Failure to comply with these standards can result in rejection or penalties, so it's crucial to ensure your property is up to code.
In summary, the FMR of $1,120 provides a benchmark for the government's contribution to rent, which is higher than the current average rent of $914. With 40.2% of residents as renters and a median income of $70,369, there is significant potential for demand and affordability. Ensure your property passes the required inspections to avoid any issues once you decide to enter the Section 8 market.
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.