Section 8 Fair Market Rent (FMR) for ZIP 42027 - 2027

Location: Graves County, KY | Metro: McCracken County, KY HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$740
1 Bedroom	$830
2 Bedrooms	$1,050
3 Bedrooms	$1,330
4 Bedrooms	$1,600
5 Bedrooms	$1,856
6 Bedrooms	$2,079
7 Bedrooms	$2,245
8 Bedrooms	$2,357

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,875

Median Household Income

$58,056

Housing Units

783

Renter Percentage

8.9%

Occupancy Rate

86.3%

Renter Occupied

Housing Authorities Serving ZIP 42027

Housing Authority of Paducah (Paducah, KY) - 601 Section 8 vouchers
Housing Authority of Mayfield (Mayfield, KY) - 307 Section 8 vouchers

The ZIP code 42027, encompassing Boaz, KY, presents a modest real estate market with distinct opportunities for landlords and small-portfolio investors. Nestled in the eastern part of Kentucky, Boaz offers a rural setting that attracts a specific demographic, often seeking affordable living conditions.

The Fair Market Rent (FMR) for ZIP 42027 is set at $990 for metro areas as of fiscal year 2026, indicating the average rental price for a two-bedroom apartment.
While the specific market rent for ZIP 42027 is currently unavailable, the data suggests a stable trend in line with the FMR.
The median home value in Boaz stands at $232,470, reflecting the typical cost of residential properties in the area.
Renters make up 8.9% of the housing market, showing a relatively low demand for rentals compared to owner-occupied homes.
The median income of residents is $58,056, which provides insight into the economic capacity of potential tenants.

Analyzing these points, investors can expect a niche market where rental prices are likely to be stable but not highly competitive. The low renter share suggests a preference for homeownership, yet the modest median home values and income levels indicate that there is still a segment of the population looking for affordable rental options. Landlords should focus on providing quality, budget-friendly housing to cater to this demographic effectively. The FMR figure serves as a benchmark for pricing units, ensuring they remain attractive to renters without overpricing the 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.