Location: Elizabethtown, KY | Metro: Elizabethtown, 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 | $760 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,330 |
| 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 |
|---|---|---|---|---|
| 2BR | $960 | $151,605 | 0.63% | D |
| 3BR | $1,330 | $242,143 | 0.55% | F |
| 4BR | $1,600 | $291,154 | 0.55% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 42776, which falls under the Sonora, KY, Elizabethtown, KY HUD Metro Fair Market Rent (FMR) area, reveals several key points that are crucial for landlords and small-portfolio investors.
Firstly, does the rent math work? The fair market rent for the area is set at $960 per month for fiscal year 2024, while the Census ACS indicates a market rent of $1,008. This means that landlords can expect to charge a rent that is above the FMR but still within a reasonable range of the actual market rate, suggesting that the rent math does work in favor of landlords who can maintain properties at or slightly below the market rent.
Secondly, is acquisition affordable? The median home value in ZIP 42776 is $228,042. However, due to the lack of data on the number of days on the market (DOM) and the percentage of homes requiring a price cut, it's difficult to determine the exact affordability of acquiring properties. Nonetheless, the median home value is relatively low compared to many other areas, making it potentially attractive for investors looking to enter the market without a large capital outlay.
Lastly, is there tenant demand? With a population of 2,082, 23.0% of residents are renters. This indicates a modest but stable tenant pool, providing landlords with a consistent source of potential tenants. Given the size of the population and the percentage of renters, landlords should be able to find enough interested parties to fill their rental units.
In summary, ZIP 42776 presents a balanced opportunity for real estate investment. The rent math works in favor of landlords who can charge slightly above the FMR. Acquisition is affordable with a median home value of $228,042, though the absence of DOM and price-cut share data introduces some uncertainty. Tenant demand is present, with a quarter of the local population being renters, ensuring a steady stream of potential occupants. These factors combined suggest that 42776 is a viable market for those willing to invest in properties that align with these conditions.
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.