FMR is below market; voucher rent may lag private rents.
0.49
1 BR
1 BR- 41059
0.55ratio
FMR$790
Market$1,440
vs market-$650
FMR is below market; voucher rent may lag private rents.
0.55
2 BR
2 BR- 41059
0.60ratio
FMR$1,010
Market$1,670
vs market-$660
FMR is below market; voucher rent may lag private rents.
0.60
3 BR
3 BR- 41059
0.69ratio
FMR$1,340
Market$1,940
vs market-$600
FMR is below market; voucher rent may lag private rents.
0.69
4 BR
4 BR- 41059
0.68ratio
FMR$1,520
Market$2,220
vs market-$700
FMR is below market; voucher rent may lag private rents.
0.68
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
--
Melbourne, KY fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Melbourne, KY is $1,010 a month. That is up 3.1% from $980 in FY 2026. Melbourne 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 Melbourne is 9% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Melbourne, KY
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$690
$740
+7.2%
$666–$814
1BR
$760
$790
+3.9%
$711–$869
2BR
$980
$1,010
+3.1%
$909–$1,111
3BR
$1,290
$1,340
+3.9%
$1,206–$1,474
4BR
$1,440
$1,520
+5.6%
$1,368–$1,672
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Melbourne, KY
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$740
$790
$1,010
$1,340
$1,520
FY 2026
$690
$760
$980
$1,290
$1,440
FY 2025
$730
$830
$1,080
$1,430
$1,590
FY 2024
$660
$760
$990
$1,320
$1,490
FY 2023
$600
$680
$890
$1,190
$1,340
Questions about Melbourne, KY rents
How much will Section 8 pay for a two-bedroom in Melbourne, KY?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,010, that basic range is $909 to $1,111 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 Melbourne, KY in?
Melbourne, 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 Melbourne, KY for FY 2027?
The two-bedroom FMR rose 3.1%, from $980 in FY 2026 to $1,010 in FY 2027. Since FY 2023 it has risen 13.5%.
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