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Webster County/Morganfield/42437

42437

ZIPSAFMR
Webster County, KY
Zillow

ZIP Investment Score

87Below average

095130300
BRFMR
Eff. Rent
0 BR$750$750
1 BR$780$780
2 BR$1,020$1,020
3 BR$1,220$1,220
4 BR$1,390$1,390
5 BR$1,598Not available
6 BR$1,838Not available
7 BR$2,114Not available
8 BR$2,431Not available

Purchase Price Calculator

Maximum purchase price
$89,655

Cost breakdown

+Likely effective rent$1,020
HUD FMRUsed$1,020
Market rentN/A
Est. payment standardN/A
-Principal and interest-$453
Loan amount$71,724
Down payment$17,931
Rate6.50%
Term30 years
-Operating costs-$367
Property taxes-$90
Insurance-$175
Utilities$0
HOA$0
Management-$102
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$16,663(92.9% ROI)
Projected value
$96,549
Return breakdown
Property appreciation+$6,894
Loan principal paid down+$2,570
Rental cash flow+$7,200
5-year hold
+$28,364(158.2% ROI)
Projected value
$101,437
Return breakdown
Property appreciation+$11,781
Loan principal paid down+$4,582
Rental cash flow+$12,000
10-year hold
+$60,030(334.8% ROI)
Projected value
$114,766
Return breakdown
Property appreciation+$25,111
Loan principal paid down+$10,919
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
--
Tax rate
--
Mortgage rate
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ZIP 42437 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 42437 (Morganfield, KY) is $1,020 a month. That is up 8.5% from $940 in FY 2026. Morganfield is in the Webster 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 $909. Among 11 ZIP codes in Webster County, 42437 is tied for the 2nd-highest two-bedroom rent (county range $910–$1,110). The median county two-bedroom FMR in Kentucky is $925, so ZIP 42437 is 10% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 42437
BedroomsFY 2027Change90–110% range
Studio$750+11.9%$675–$825
1BR$780+8.3%$702–$858
2BR$1,020+8.5%$918–$1,122
3BR$1,220+8.0%$1,098–$1,342
4BR$1,390+12.1%$1,251–$1,529

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 42437
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$750$780$1,020$1,220$1,390
FY 2026$670$720$940$1,130$1,240
FY 2025$650$690$900$1,080$1,190
FY 2024area FMR$628$659$866$1,047$1,177
FY 2023area FMR$538$564$742$905$999

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Webster County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 42437
42404$910−10.8%
42406$910−10.8%
42409$910−10.8%
42437Current$1,020—
42441$1,0200.0%
42444$910−10.8%
42450$910−10.8%
42452$950−6.9%
42455$1,000−2.0%
42456$1,110+8.8%
42463$910−10.8%

Questions about ZIP 42437 rents

How much will Section 8 pay for a two-bedroom in ZIP 42437?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $909, which applies unless the housing authority uses Small Area FMRs, that basic range is $818 to $1,000 a month; under the ZIP-level Small Area FMR of $1,020 it would be $918 to $1,122. 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 42437 in?

ZIP 42437 is in the Webster County, KY non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $909.

How much did fair market rent change in ZIP 42437 for FY 2027?

The two-bedroom FMR rose 8.5%, from $940 in FY 2026 to $1,020 in FY 2027. Since FY 2025 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

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