Section 8 Fair Market Rent (FMR) for ZIP 42782 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Housing Authorities Serving ZIP 42782

• Housing Authority of Greensburg (Greensburg, KY) - 121 Section 8 vouchers
• Housing Authority of Horse Cave (Horse Cave, KY)

The ZIP code 42782 is situated in a region that offers a stable rental market for both landlords and small-portfolio investors. The area is characterized by a mix of residential properties, including single-family homes and apartments, which cater to a diverse range of tenants.

• The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $910, indicating a reasonable benchmark for rental pricing.
• The actual market rent, as per the latest Census American Community Survey (ACS), stands at $853, suggesting a slight gap between the FMR and the current market conditions.
• The median home value in the area is $207,101, reflecting the overall affordability and potential for steady appreciation.
• Renters make up 21.4% of the population, showing a significant portion of the market that relies on rental properties.
• The median income for residents is $39,193, which aligns well with the prevailing rents and suggests a manageable cost-to-income ratio for tenants.
• The average number of days on the market (DOM) for rental listings is not available, but this metric would typically provide insight into the speed of property turnover.

Investors looking to enter the ZIP 42782 market can expect a relatively stable environment with a fair balance between rental demand and affordability. While the FMR slightly exceeds the current market rent, the gap presents an opportunity for gradual price adjustments. The median home value indicates a modest investment base, suitable for those seeking steady growth rather than rapid appreciation. With a substantial renter share and a median income that supports the existing rental rates, there's a solid foundation for consistent cash flow. However, the lack of DOM data means that investors should conduct further research to understand the local rental market dynamics fully.

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.