FMR is below market; voucher rent may lag private rents.
0.83
1 BR
1 BR- 41051
0.87ratio
FMR$1,290
Market$1,480
vs market-$190
FMR is below market; voucher rent may lag private rents.
0.87
2 BR
2 BR- 41051
0.87ratio
FMR$1,650
Market$1,900
vs market-$250
FMR is below market; voucher rent may lag private rents.
0.87
3 BR
3 BR- 41051
1.00ratio
FMR$2,170
Market$2,160
vs market+$10
FMR is near market; voucher and private rents are aligned.
1.00
4 BR
4 BR- 41051
1.03ratio
FMR$2,450
Market$2,370
vs market+$80
FMR is near market; voucher and private rents are aligned.
1.03
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
--
Independence, KY fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Independence, KY is $1,650 a month. That is up 6.5% from $1,550 in FY 2026. Independence is in the Cincinnati, OH-KY-IN HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. The median county two-bedroom FMR in Kentucky is $925, so Independence is 78% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Independence, KY
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,100
$1,200
+9.1%
$1,080–$1,320
1BR
$1,200
$1,290
+7.5%
$1,161–$1,419
2BR
$1,550
$1,650
+6.5%
$1,485–$1,815
3BR
$2,050
$2,170
+5.9%
$1,953–$2,387
4BR
$2,260
$2,450
+8.4%
$2,205–$2,695
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Independence, KY
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,200
$1,290
$1,650
$2,170
$2,450
FY 2026
$1,100
$1,200
$1,550
$2,050
$2,260
FY 2025
$1,030
$1,160
$1,500
$1,990
$2,200
FY 2024
$960
$1,080
$1,410
$1,870
$2,080
FY 2023
$880
$1,010
$1,310
$1,750
$1,970
Questions about Independence, KY rents
How much will Section 8 pay for a two-bedroom in Independence, KY?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,650, that basic range is $1,485 to $1,815 a month. 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 Independence, KY in?
Independence, KY is in the Cincinnati, OH-KY-IN HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.
How much did fair market rent change in Independence, KY for FY 2027?
The two-bedroom FMR rose 6.5%, from $1,550 in FY 2026 to $1,650 in FY 2027. Since FY 2023 it has risen 26.0%.
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