Madison 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).

$9932-bedroom FMR, FY2027

$8591-bedroom FMR, FY2027

$68,65080% income limit, family of 4 (FY2026)

$85,800Median family income (FY2026)

The FY2027 Fair Market Rent for a two-bedroom unit in Madison County is $993 a month, up 9.8% from $904 in FY2026. Madison County belongs to the Madison 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 Madison County by bedroom count

Unit size	FY2027 FMR	FY2026 FMR	Change	Payment standard range (90–110%)
Studio	$691	$666	+3.8%	$622 – $760
1 bedroom	$859	$785	+9.4%	$774 – $944
2 bedrooms	$993	$904	+9.8%	$894 – $1,092
3 bedrooms	$1,375	$1,257	+9.4%	$1,238 – $1,512
4 bedrooms	$1,600	$1,416	+13.0%	$1,440 – $1,760

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 Madison County that is typically $894 to $1,092 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?

$40,568median income of renter households

$889Median gross rent, all units

26%Rent-to-income ratio (median rent ÷ median renter income)

45%of renter households pay 30% or more of income on rent

At the 30% rule, a renter household earning the local median of $40,568 can afford about $1,014 a month including utilities. The FY2027 two-bedroom Fair Market Rent of $993 is $21 (2.1%) less than that. To rent a two-bedroom at the FMR, a household needs $39,720 a year under the 30% rule, or $35,748 under the common landlord rule that income must be three times the rent.

Madison County, ACS 2020–2024	Estimate ± MOE
Median gross rent (rent + utilities)	$889 ±$26
Median income of renter households	$40,568 ±$3,343
Renters paying 30% or more of income (cost-burdened)	44.7% ±4.2
Renters paying 50% or more (severely cost-burdened)	20.8% ±3.1
Renter households (where the share can be computed)	13,123

Change since 2015–2019

	ACS 2015–2019	ACS 2020–2024	Change
Median gross rent	$710	$889	+25.2%
Median renter household income	$30,830	$40,568	+31.6%
Renters paying 30%+ of income	45.6%	44.7%	−0.9 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 Madison County (FY2026)

Income limits decide who qualifies for Section 8 vouchers, public housing and most HUD-assisted units. The area median family income is $85,800 (FY2025: $88,400, −2.9%). 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%)	$18,050 −2.7%	$21,640 +2.1%	$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%)	$30,050 −2.9%	$34,350 −3.0%	$38,650 −2.9%	$42,900 −2.9%	$46,350 −2.9%	$49,800 −2.9%	$53,200 −3.0%	$56,650 −2.9%
Low income (80%)	$48,100 −2.8%	$54,950 −2.9%	$61,800 −2.9%	$68,650 −2.9%	$74,150 −2.9%	$79,650 −2.9%	$85,150 −2.9%	$90,650 −2.9%

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.