FMR is near market; voucher and private rents are aligned.
1.09
1 BR
1 BR
1.12ratio
FMR$740
Market$660
vs market+$80
FMR is above market; underwrite to market rent.
1.12
2 BR
2 BR
1.37ratio
FMR$970
Market$710
vs market+$260
FMR is above market; underwrite to market rent.
1.37
3 BR
3 BR
1.57ratio
FMR$1,160
Market$740
vs market+$420
FMR is above market; underwrite to market rent.
1.57
4 BR
4 BR
1.65ratio
FMR$1,320
Market$800
vs market+$520
FMR is above market; underwrite to market rent.
1.65
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
--
ZIP 42460 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 42460 (Sullivan, KY) is $970 a month. That is up 6.6% from $910 in FY 2026. Sullivan is in the Union 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 $971. Among 6 ZIP codes in Union County, 42460 has the 3rd-highest two-bedroom rent (county range $910–$1,060). The median county two-bedroom FMR in Kentucky is $925, so ZIP 42460 is 5% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 42460
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$650
$720
+10.8%
$648–$792
1BR
$690
$740
+7.2%
$666–$814
2BR
$910
$970
+6.6%
$873–$1,067
3BR
$1,090
$1,160
+6.4%
$1,044–$1,276
4BR
$1,200
$1,320
+10.0%
$1,188–$1,452
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 42460
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$720
$740
$970
$1,160
$1,320
FY 2026
$650
$690
$910
$1,090
$1,200
FY 2025
$630
$670
$880
$1,060
$1,170
FY 2024area FMR
$629
$694
$868
$1,050
$1,156
FY 2023area FMR
$541
$611
$746
$908
$1,002
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
How much will Section 8 pay for a two-bedroom in ZIP 42460?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $971, which applies unless the housing authority uses Small Area FMRs, that basic range is $874 to $1,068 a month; under the ZIP-level Small Area FMR of $970 it would be $873 to $1,067. 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 42460 in?
ZIP 42460 is in the Union County, KY non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $971.
How much did fair market rent change in ZIP 42460 for FY 2027?
The two-bedroom FMR rose 6.6%, from $910 in FY 2026 to $970 in FY 2027. Since FY 2025 it has risen 10.2%.
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