Location: Hickman County, KY | Metro: Hickman County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $690 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,190 |
| 5 Bedrooms | $1,380 |
| 6 Bedrooms | $1,546 |
| 7 Bedrooms | $1,670 |
| 8 Bedrooms | $1,754 |
U.S. Census Bureau data (2024)
The ZIP code 42031, located in Clinton, KY, has a population of 3,411 individuals. With 29.7% of residents being renters, this indicates a moderate rental market presence rather than a renter-heavy area. The median household income stands at $57,097, which provides context for the affordability of housing in the area.
Average market rent in ZIP 42031 is $701. This represents approximately 14.3% of the median household income, calculated as $701 divided by $57,097 and multiplied by 100. For comparison, the Fair Market Rent (FMR) for the metro area is $870, as of FY 2026. This suggests that market rents in Clinton are below the regional average, making them relatively more affordable for tenants.
The lower-than-FMR rent could be indicative of a strong demand for Section 8 vouchers in the area. Given that a significant portion of the population relies on rental housing, landlords can anticipate a robust pool of potential tenants who are likely to be interested in properties that accept Section 8 vouchers. These tenants will have their rent subsidized up to the voucher amount, which is typically capped at the FMR level.
To summarize, landlords in ZIP 42031 should expect a tenant base that is moderately reliant on rental housing, with a notable segment of the population using Section 8 vouchers. These tenants will generally be financially stable and able to afford rent that consumes about 14.3% of their income, aligning well with the current market conditions. Landlords who are willing to participate in the Section 8 program will benefit from a steady stream of qualified applicants who can meet their financial needs without exceeding the typical market rent.
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.