Location: Graves County, KY | Metro: Carlisle County, KY HUD Metro FMR Area
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 | $690 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,240 | $287,899 | 0.43% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 42069, set at $1,060 for metro fiscal year 2026, is a critical figure for landlords and small-portfolio investors looking into Section 8 rentals. This FMR is the payment standard used by the U.S. Department of Housing and Urban Development (HUD) to determine the maximum amount of rent assistance that can be paid on behalf of eligible tenants. It does not represent the rent you can charge, but rather the ceiling for rent subsidy payments.
To put this into perspective, the local median rent for ZIP 42069 is currently unavailable, which makes the FMR an even more important benchmark. However, knowing that 9.4% of the residents in this area are renters suggests a moderate demand for rental properties. While this percentage indicates that the majority of the population owns homes, it also shows that there is a consistent need for rental units, particularly those that cater to lower-income individuals who might qualify for Section 8 assistance.
For investors, the FMR of $1,060 helps in setting realistic expectations for the monthly rental income. Since this is the maximum subsidy amount, your property's rent must not exceed this figure to remain competitive and attractive to potential tenants. Additionally, understanding the acquisition cost of a property in this ZIP code is crucial. With an average price tag of $223,308, you can calculate the potential return on investment based on the FMR and other factors such as maintenance costs and vacancy rates.
Before making a decision to enter the Section 8 market in ZIP 42069, ensure that your property meets all the necessary inspection criteria. HUD requires that all properties leased under the Section 8 program pass a thorough inspection to meet health and safety standards. This verification step is essential to avoid any delays in securing a tenant and to comply with federal regulations.
In summary, the FMR of $1,060 provides a clear guideline for the maximum rent subsidy available, while the local renter share of 9.4% and the average property price of $223,308 give insight into the demand and initial investment required. The key action item for new investors is to confirm that their property passes the required HUD inspection to ensure eligibility and compliance with the program.
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.