Skip to main content
Loading page
Daviess County/Owensboro/42303

42303

ZIPSAFMR
Daviess County, KY
Zillow

ZIP Investment Score

82Below average

095130300
BRFMR
Eff. Rent
0 BR$930$870
1 BR$940$930
2 BR$1,230$980
3 BR$1,630$1,060
4 BR$1,640$1,360
5 BR$1,886Not available
6 BR$2,169Not available
7 BR$2,494Not available
8 BR$2,868Not available

Purchase Price Calculator

Maximum purchase price
$83,711

Cost breakdown

+Likely effective rent$980
HUD FMR$1,230
Market rentUsed$980
Est. payment standard (90%)$1,110
-Principal and interest-$423
Loan amount$66,969
Down payment$16,742
Rate6.50%
Term30 years
-Operating costs-$357
Property taxes-$84
Insurance-$175
Utilities$0
HOA$0
Management-$98
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$16,036(95.8% ROI)
Projected value
$90,148
Return breakdown
Property appreciation+$6,437
Loan principal paid down+$2,399
Rental cash flow+$7,200
5-year hold
+$27,279(162.9% ROI)
Projected value
$94,711
Return breakdown
Property appreciation+$11,000
Loan principal paid down+$4,279
Rental cash flow+$12,000
10-year hold
+$57,641(344.3% ROI)
Projected value
$107,157
Return breakdown
Property appreciation+$23,446
Loan principal paid down+$10,195
Rental cash flow+$24,000

Public Housing Authority

Loading Public Housing Authority

Rolodex

Loading Rolodex

Market Alignment

Studio
1.07
1 BR
1.01
2 BR
1.26
3 BR
1.54
4 BR
1.21
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 42303 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 42303 (Owensboro, KY) is $1,230 a month. That is up 4.2% from $1,180 in FY 2026. Owensboro is in the Owensboro, KY MSA. 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 metro-wide two-bedroom FMR of $1,138. Among 12 ZIP codes in Daviess County, 42303 has the highest two-bedroom rent (county range $1,000–$1,230). The median county two-bedroom FMR in Kentucky is $925, so ZIP 42303 is 33% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 42303
BedroomsFY 2027Change90–110% range
Studio$930+4.5%$837–$1,023
1BR$940+4.4%$846–$1,034
2BR$1,230+4.2%$1,107–$1,353
3BR$1,630+4.5%$1,467–$1,793
4BR$1,640+5.1%$1,476–$1,804

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 42303
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$930$940$1,230$1,630$1,640
FY 2026$890$900$1,180$1,560$1,560
FY 2025$870$880$1,150$1,520$1,520
FY 2024$840$840$1,110$1,470$1,480
FY 2023$710$710$940$1,240$1,260

Two-bedroom rent in nearby Daviess County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 42303
42301$1,190−3.3%
42302$1,150−6.5%
42303Current$1,230—
42304$1,150−6.5%
42327$1,000−18.7%
42348$1,000−18.7%
42351$1,000−18.7%
42355$1,000−18.7%
42356$1,190−3.3%
42366$1,120−8.9%
42376$1,040−15.4%
42378$1,000−18.7%

Questions about ZIP 42303 rents

How much will Section 8 pay for a two-bedroom in ZIP 42303?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,138, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,024 to $1,252 a month; under the ZIP-level Small Area FMR of $1,230 it would be $1,107 to $1,353. 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 42303 in?

ZIP 42303 is in the Owensboro, KY MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,138.

How much did fair market rent change in ZIP 42303 for FY 2027?

The two-bedroom FMR rose 4.2%, from $1,180 in FY 2026 to $1,230 in FY 2027. Since FY 2023 it has risen 30.9%.

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

County fair market rentOwensboro, KY fair market rentKY statewide rentsWhat is SAFMR?Data sources