FMR is below market; voucher rent may lag private rents.
0.64
1 BR
1 BR- 42134
0.75ratio
FMR$970
Market$1,290
vs market-$320
FMR is below market; voucher rent may lag private rents.
0.75
2 BR
2 BR- 42134
0.79ratio
FMR$1,110
Market$1,400
vs market-$290
FMR is below market; voucher rent may lag private rents.
0.79
3 BR
3 BR- 42134
0.86ratio
FMR$1,480
Market$1,720
vs market-$240
FMR is below market; voucher rent may lag private rents.
0.86
4 BR
4 BR- 42134
0.83ratio
FMR$1,560
Market$1,890
vs market-$330
FMR is below market; voucher rent may lag private rents.
0.83
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--
Franklin, KY fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Franklin, KY is $1,110 a month. That is up 5.7% from $1,050 in FY 2026. Franklin is in the Simpson County, KY non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $1,122. The median county two-bedroom FMR in Kentucky is $925, so Franklin is 20% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Franklin, KY
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$750
$800
+6.7%
$720–$880
1BR
$870
$970
+11.5%
$873–$1,067
2BR
$1,050
$1,110
+5.7%
$999–$1,221
3BR
$1,400
$1,480
+5.7%
$1,332–$1,628
4BR
$1,480
$1,560
+5.4%
$1,404–$1,716
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Franklin, KY
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$800
$970
$1,110
$1,480
$1,560
FY 2026
$750
$870
$1,050
$1,400
$1,480
FY 2025
$780
$790
$1,030
$1,370
$1,490
FY 2024
$860
$870
$1,140
$1,380
$1,650
FY 2023
$740
$740
$980
$1,220
$1,470
Questions about Franklin, KY rents
How much will Section 8 pay for a two-bedroom in Franklin, KY?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,122, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,010 to $1,234 a month; under the ZIP-level Small Area FMR of $1,110 it would be $999 to $1,221. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is Franklin, KY in?
Franklin, KY is in the Simpson County, KY non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,122.
How much did fair market rent change in Franklin, KY for FY 2027?
The two-bedroom FMR rose 5.7%, from $1,050 in FY 2026 to $1,110 in FY 2027. Since FY 2023 it has risen 13.3%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set