The PHA sets a payment standard ranging from 90% to 110% of the Fair Market Rents (FMRs).

Magoffin County, KY, KY

In the year 2024, as a landlord, if you're looking to rent your property to a Section 8 tenant or another housing voucher program in Magoffin County, KY, you can consider the following rental prices based on HUD income limits.

Efficiency:The efficiency rental rates range from a low of $554 to a high of $678, with an average of $616.
One-bedroom: One-bedroom rental prices vary, with a minimum of $681, a maximum of $833, and an average of $757.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $765, peaking at a maximum of $935, and averaging at $850.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,013, a maximum of $1,239, and an average of $1,126.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,040 to a maximum of $1,272, with an average of $1,156.

The fair market rent mentioned already includes all utilities. If a landlord chooses not to provide utility coverage, they can subtract the utility costs from the rent to determine the adjusted rental price.

Each housing authority establishes its own rental rates, so you should check the pricing set by that specific housing authority to determine the maximum amount they can offer. It's advisable to adhere to their pricing guidelines.

To apply for Section 8 housing, you can check your income against the Magoffin County, KY Housing Choice voucher income limit to determine your eligibility.

HUD's Fair Market Rent guides Section 8 rates for your rental unit.

Year Area HUD Fair Market Rent Bedrooms
Studio 1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom
2024 Magoffin County, KY, KY Low Rent (90%) $554 $681 $765 $1,013 $1,040
Average Rent $616 $757 $850 $1,126 $1,156
High Rent(110%) $678 $833 $935 $1,239 $1,272
2023 Magoffin County, KY, KY Low Rent (90%) $484 $591 $668 $881 $899
Average Rent $538 $657 $742 $979 $999
High Rent (110%) $592 $723 $816 $1,077 $1,099
2022 Magoffin County, KY, KY Low Rent (90%) $434 $502 $607 $778 $823
Average Rent $482 $558 $674 $864 $914
High Rent(110%) $530 $614 $741 $950 $1,005
2021 Magoffin County, KY, KY Low Rent (90%) $428 $493 $597 $752 $811
Average Rent $475 $548 $663 $835 $901
High Rent (110%) $523 $603 $729 $919 $991
2020 Magoffin County, KY, KY Low Rent (90%) $403 $484 $568 $721 $770
Average Rent $448 $538 $631 $801 $856
High Rent(110%) $493 $592 $694 $881 $942
2019 Magoffin County, KY, KY Low Rent (90%) $399 $485 $556 $728 $759
Average Rent $443 $539 $618 $809 $843
High Rent (110%) $487 $593 $680 $890 $927
2018 Magoffin County, KY, KY Low Rent (90%) $399 $479 $558 $742 $760
Average Rent $443 $532 $620 $824 $844
High Rent(110%) $487 $585 $682 $906 $928
2017 Magoffin County, KY, KY Low Rent (90%) $401 $464 $558 $706 $770
Average Rent $446 $516 $620 $784 $855
High Rent (110%) $491 $568 $682 $862 $941


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