Location: Metcalfe County, KY | Metro: Clinton County, KY
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 | $650 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,270 |
| 5 Bedrooms | $1,473 |
| 6 Bedrooms | $1,650 |
| 7 Bedrooms | $1,782 |
| 8 Bedrooms | $1,871 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $910 | $147,499 | 0.62% | D |
| 3BR | $1,260 | $193,962 | 0.65% | D |
| 4BR | $1,270 | $249,248 | 0.51% | F |
U.S. Census Bureau data (2024)
The ZIP code 42717, located in Burkesville, KY, has a population of 5,969 individuals. With 24.5% of residents being renters, this area leans towards a mix of homeowners and renters, but not heavily skewed towards a renter-heavy market. The median household income in this region stands at $42,978, which provides context for understanding the affordability of housing.
A typical market rent of $523 per month is a significant portion of the local income. To be precise, the average rent consumes approximately 12.2% of the median household income when calculated annually. This percentage highlights that while rent is affordable, it still represents a considerable expense for many households. In comparison to the Fair Market Rent (FMR) figure of $870, which is set for FY 2026 in the metro area, the actual market rent in Burkesville is notably lower, indicating a potentially underserved market for rental properties.
The discrepancy between the FMR and the actual market rent suggests that there might be an opportunity for landlords to increase rents slightly without alienating potential tenants. However, given the relatively low median income, any adjustments should be carefully considered to remain competitive and attractive to the local tenant pool.
In terms of voucher demand, the fact that the market rent is significantly below the FMR indicates that vouchers could play a substantial role in the rental market. Landlords in Burkesville can expect a high number of tenants relying on Section 8 vouchers to cover their rent. These vouchers typically allow for a higher rent payment than the current market rate, aligning more closely with the FMR.
To summarize, landlords in ZIP 42717 should anticipate a tenant pool largely composed of individuals who benefit from Section 8 housing assistance. These tenants will likely have a household income around the median, and they will rely on vouchers to make up the difference between their income and the cost of rent. Given the current economic conditions and the existing rental market dynamics, landlords must be prepared to work with tenants whose rent is subsidized, ensuring compliance with HUD regulations and maintaining quality living standards.
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.