Franklin County, KY: Fair Market Rent 2027 and Income Limits

Official HUD figures for landlords and renters, effective October 1, 2026 (rents) and May 1, 2026 (income limits).

$1,1452-bedroom FMR, FY2027

$9091-bedroom FMR, FY2027

$73,70080% income limit, family of 4 (FY2026)

$92,100Median family income (FY2026)

The FY2027 Fair Market Rent for a two-bedroom unit in Franklin County is $1,145 a month, up 5.7% from $1,083 in FY2026. Franklin County belongs to the Franklin County, KY FMR area (non-metro county), so the same figures apply across that area. FMRs are gross rents: rent plus all tenant-paid utilities except phone, cable and internet.

Fair market rent in Franklin County by bedroom count

Unit size	FY2027 FMR	FY2026 FMR	Change	Payment standard range (90–110%)
Studio	$797	$747	+6.7%	$718 – $876
1 bedroom	$909	$859	+5.8%	$819 – $999
2 bedrooms	$1,145	$1,083	+5.7%	$1,031 – $1,259
3 bedrooms	$1,466	$1,410	+4.0%	$1,320 – $1,612
4 bedrooms	$1,811	$1,680	+7.8%	$1,630 – $1,992

Source: HUD Fair Market Rents FY2027 (effective October 1, 2026) and FY2026 (revised file), details.

What can a landlord charge a Section 8 tenant here?

The FMR is not a cap on what you can ask on the open market. For a Housing Choice Voucher tenant, the local housing authority sets a payment standard, normally between 90% and 110% of the FMR (or of the ZIP-level Small Area FMR where those apply). For a two-bedroom unit in Franklin County that is typically $1,031 to $1,259 including utilities. You can charge more than the payment standard if the rent passes the housing authority's rent-reasonableness test and, at move-in, the tenant's share stays within 40% of their adjusted monthly income. Ask the housing authority for its current payment standard schedule.

Can local renters afford the fair market rent?

$41,888median income of renter households

$967Median gross rent, all units

28%Rent-to-income ratio (median rent ÷ median renter income)

44%of renter households pay 30% or more of income on rent

At the 30% rule, a renter household earning the local median of $41,888 can afford about $1,047 a month including utilities. The FY2027 two-bedroom Fair Market Rent of $1,145 is $98 (9.3%) more than that. To rent a two-bedroom at the FMR, a household needs $45,800 a year under the 30% rule, or $41,220 under the common landlord rule that income must be three times the rent.

Franklin County, ACS 2020–2024	Estimate ± MOE
Median gross rent (rent + utilities)	$967 ±$40
Median income of renter households	$41,888 ±$3,023
Renters paying 30% or more of income (cost-burdened)	43.6% ±4.2
Renters paying 50% or more (severely cost-burdened)	21.5% ±2.4
Renter households (where the share can be computed)	7,510

Change since 2015–2019

	ACS 2015–2019	ACS 2020–2024	Change
Median gross rent	$762	$967	+26.9%
Median renter household income	$37,834	$41,888	+10.7%
Renters paying 30%+ of income	36.7%	43.6%	+6.9 pts

Rent-to-income calculator: does an applicant qualify? → · Most affordable counties to rent in this state →

Source: U.S. Census Bureau, American Community Survey 5-Year Estimates 2020–2024 and 2015–2019 (tables B25064, B25119, B25070). ± = margin of error at 90% confidence. Dollar figures are not adjusted for inflation.

HUD income limits for Franklin County (FY2026)

Income limits decide who qualifies for Section 8 vouchers, public housing and most HUD-assisted units. The area median family income is $92,100 (FY2025: $92,400, −0.3%). Small figures under each limit show the change from FY2025.

Household size	1 person	2 people	3 people	4 people	5 people	6 people	7 people	8 people
Extremely low income (30%)	$19,400 +0.3%	$22,150 +0.2%	$27,320 +2.5%	$33,000 +2.6%	$38,680 +2.7%	$44,360 +2.8%	$50,040 +2.9%	$55,720 +2.9%
Very low income (50%)	$32,250 +0.2%	$36,850 +0.1%	$41,450 +0.1%	$46,050 +0.1%	$49,750 +0.1%	$53,450 +0.1%	$57,150 +0.2%	$60,800 +0.1%
Low income (80%)	$51,600 +0.1%	$59,000 +0.2%	$66,350 +0.2%	$73,700 +0.1%	$79,600 +0.1%	$85,500 +0.1%	$91,400 +0.1%	$97,300 +0.1%

The 30% limit is HUD's “extremely low income” limit: the higher of 30% of median income or the federal poverty guideline, but never above the 50% limit. That is why it can rise faster than 30% of median for larger households. Tax-credit (LIHTC) properties use separate Multifamily Tax Subsidy Project limits.

Source: HUD Section 8 Income Limits FY2026 (effective May 1, 2026) and FY2025, details.