Section 8 Fair Market Rent (FMR) for ZIP 42036 - 2027

Location: Marshall County, KY | Metro: Calloway County, KY

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$850
1 Bedroom	$890
2 Bedrooms	$1,160
3 Bedrooms	$1,380
4 Bedrooms	$1,520
5 Bedrooms	$1,763
6 Bedrooms	$1,975
7 Bedrooms	$2,133
8 Bedrooms	$2,240

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,194

Median Household Income

$97,904

Housing Units

608

Renter Percentage

3.9%

Occupancy Rate

89.6%

Renter Occupied

The ZIP code 42036, located within the Marshall County, KY metro, presents an interesting profile when compared against typical ZIP codes in the same county. The Fair Market Rent (FMR) for ZIP 42036 stands at $980 for fiscal year 2026, which is a key figure for understanding the rental landscape in this area.

Despite the FMR being a strong indicator, the absence of specific market rent data for ZIP 42036 means we must rely on the home value and renter share percentages to draw conclusions. The median home value in 42036 is $155,096, which is notably lower than many other areas in the county. This suggests that the housing stock in this ZIP code is generally less expensive than what might be found in other parts of Marshall County, potentially making it attractive to both first-time buyers and investors looking for lower-cost entry points.

The renter share of 3.9% is also significant. While this percentage alone doesn't provide a complete picture, when combined with the relatively low home value, it indicates a smaller proportion of residents are renters compared to owners. However, the presence of a defined FMR without corresponding market rent data could suggest a reliance on government-assisted housing programs, such as Section 8, to support the rental market in this area.

To determine if ZIP 42036 is a value pocket, a mid-tier neighborhood, or a premium sub-market, consider the following:

Value Pocket: The low median home value and defined FMR suggest that 42036 could be considered a value pocket within the Marshall County, KY metro. It offers opportunities for investment at a lower price point than other areas, particularly where there is a need for affordable housing.
Mid-Tier Neighborhood: There isn't enough evidence to definitively categorize 42036 as a mid-tier neighborhood. The lack of market rent data makes it challenging to place it within a broader context of rental prices in the county.
Premium Sub-Market: Given the low median home value and the relatively low renter share, it's unlikely that 42036 would be classified as a premium sub-market. Typically, premium markets exhibit higher home values and a larger proportion of renters.

The combination of a defined FMR and a below-average home value in ZIP 42036, despite the modest renter share, may indicate that it is an area with potential for Section 8 properties. Landlords and investors should consider this ZIP code for properties that can benefit from government assistance programs while offering a more affordable option for homeownership.

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.