Location: Hopkins County, KY | Metro: Clarksville, TN-KY HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $990 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,690 |
| 4 Bedrooms | $2,040 |
| 5 Bedrooms | $2,366 |
| 6 Bedrooms | $2,650 |
| 7 Bedrooms | $2,862 |
| 8 Bedrooms | $3,005 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 42453 in fiscal year 2024 is set at $1150. This figure represents the maximum amount that a landlord can receive through the Section 8 program for renting a unit in this area. It's important to note that this is not the rent you will charge your tenants; it's the payment standard used by the Housing Choice Voucher Program to determine the subsidy amount.
In comparison, the average market rent for ZIP 42453, based on Census American Community Survey (ACS) data, is $850. This suggests that the FMR is higher than the typical rent, which could be advantageous for landlords participating in the Section 8 program, as they might receive a slightly better rate than the local market average.
The 27.1% share of renters in the area indicates a steady demand for rental properties. This percentage means that nearly one in every four residents in ZIP 42453 are likely to be looking for a place to rent, providing a reasonable pool of potential tenants for those considering Section 8 rentals.
When acquiring a property in ZIP 42453, the median household income of $108,061 should inform your decision-making process. While this income level is above average, it does not directly affect the rental rates or subsidies you will receive. However, it can influence the overall economic stability of the neighborhood and the potential for property appreciation over time.
Before finalizing your decision to participate in the Section 8 program, ensure that the property meets all necessary housing quality standards (HQS). These standards are set by the Department of Housing and Urban Development (HUD) and must be met for a unit to be eligible for Section 8 tenancy. Verification of these standards is critical to avoid any issues that could prevent you from renting to Section 8 participants or result in penalties.
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.