Location: Barren County, KY | Metro: Barren County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 42156 in fiscal year 2026 is set at $930. This figure represents the payment standard under the Section 8 Housing Choice Voucher program, which means the government will pay up to this amount per month towards rent for eligible tenants. However, it's important to note that this is not the actual rent you should charge; rather, it's the maximum subsidy amount.
In ZIP 42156, the local market rent is listed as N/A, indicating that there might be limited data available on average rents in the area. Despite this, the 0.0% renter share suggests that almost all potential tenants would rely on the voucher program to cover their rent, implying a high demand for affordable housing options.
The median home value in this ZIP code is approximately $199,660. This indicates the typical price you'd expect to pay if acquiring a property here. When deciding whether to invest in a Section 8 rental, you must ensure that the property meets the Housing Quality Standards (HQS) set by the Department of Housing and Urban Development (HUD). This is a critical step because only properties that pass HQS inspections can participate in the program.
To put the FMR into perspective, consider that it covers the majority of rent costs for low-income families. As a landlord, you can charge a higher rent than $930, but the tenant must cover the difference between the FMR and your asking rent. For example, if you list your rent at $1,000, the tenant would need to pay an additional $70 per month out-of-pocket.
The lack of local market rent data makes it difficult to compare the FMR against typical rental prices. However, given the median home value, it's reasonable to assume that many homes in the area could be rented for amounts close to or slightly above the FMR, especially considering the high reliance on the voucher program.
Before proceeding with a Section 8 rental, verify that your property meets all the necessary HQS requirements. This ensures compliance and avoids delays in leasing your property. The inspection process evaluates safety, habitability, and general condition, so prepare accordingly.
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.