Location: Muhlenberg County, KY | Metro: Muhlenberg County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,350 |
| 5 Bedrooms | $1,566 |
| 6 Bedrooms | $1,754 |
| 7 Bedrooms | $1,894 |
| 8 Bedrooms | $1,989 |
U.S. Census Bureau data (2024)
The Federal Payment Standard for ZIP code 42344 in fiscal year 2026 is set at $890. This figure represents the maximum amount that the U.S. Department of Housing and Urban Development (HUD) will pay towards a tenant's rent under the Section 8 housing program. It is important to note that this does not necessarily reflect the actual rent you can charge your tenants.
In ZIP 42344, the median home value is listed as $93,005. This indicates the typical price range for acquiring a property in this area, which is crucial for understanding the potential investment costs when considering a Section 8 rental.
The local median rent has been noted as N/A, which means there isn't specific data available on the average rent in this ZIP code. However, the 28.6% renter share suggests that nearly three out of ten households in this area are renters, indicating a reasonable level of demand for rental properties.
To put this into perspective, if the federal payment standard is $890, and the local rent is higher, you would need to cover the difference between the HUD payment and the actual rent charged. Conversely, if the local rents are lower, you might consider adjusting your rent closer to the payment standard to maximize your income while still remaining competitive.
A key consideration for landlords looking to enter the Section 8 market is to ensure that the property meets all the required standards and specifications set forth by HUD. Before finalizing any decision to accept Section 8 tenants, you must verify that your property complies with these requirements, including health and safety standards, to avoid potential penalties and ensure eligibility for the program.
In summary, the payment standard of $890 provides a benchmark for the maximum subsidy you can receive per month, while the 28.6% renter share points to a moderate demand for rentals. With an acquisition cost around $93,005, it is feasible to consider a Section 8 rental, but compliance with HUD standards is non-negotiable.
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.