Not enough rental comps in this area to determine how FMR aligns with current market rates.
Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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ZIP 41061 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 41061 (Milford, KY) is $1,030 a month. That is up 3.0% from $1,000 in FY 2026. Milford 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. Among 8 ZIP codes in Bracken County, 41061 has the 6th-highest two-bedroom rent (county range $1,010–$1,260). The median county two-bedroom FMR in Kentucky is $925, so ZIP 41061 is 11% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 41061
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$710
$750
+5.6%
$675–$825
1BR
$780
$810
+3.8%
$729–$891
2BR
$1,000
$1,030
+3.0%
$927–$1,133
3BR
$1,320
$1,360
+3.0%
$1,224–$1,496
4BR
$1,460
$1,530
+4.8%
$1,377–$1,683
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 41061
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$750
$810
$1,030
$1,360
$1,530
FY 2026
$710
$780
$1,000
$1,320
$1,460
FY 2025
$730
$830
$1,080
$1,430
$1,590
FY 2024
$660
$760
$990
$1,320
$1,490
FY 2023
$580
$670
$880
$1,180
$1,340
Two-bedroom rent in nearby Bracken County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 41061?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,030, that basic range is $927 to $1,133 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 ZIP 41061 in?
ZIP 41061 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 ZIP 41061 for FY 2027?
The two-bedroom FMR rose 3.0%, from $1,000 in FY 2026 to $1,030 in FY 2027. Since FY 2023 it has risen 17.0%.
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