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

Pendleton, KY 40055's Section 8 Fair Market Rent

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 the 40055 zip code area, you can consider the following rental prices based on HUD income limits.

Efficiency:The efficiency rental rates range from a low of $972 to a high of $1,188, with an average of $1,080.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,071, a maximum of $1,309, and an average of $1,190.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,296, peaking at a maximum of $1,584, and averaging at $1,440.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,692, a maximum of $2,068, and an average of $1,880.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,944 to a maximum of $2,376, with an average of $2,160.

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.

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

Year City, State, Zipcode HUD Fair Market Rent Bedrooms
Studio 1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom
2024 Pendleton, KY 40055 Low Rent (90%) $972 $1,071 $1,296 $1,692 $1,944
Average Rent $1,080 $1,190 $1,440 $1,880 $2,160
High Rent(110%) $1,188 $1,309 $1,584 $2,068 $2,376
2023 Pendleton, KY 40055 Low Rent (90%) $756 $855 $1,026 $1,359 $1,566
Average Rent $840 $950 $1,140 $1,510 $1,740
High Rent (110%) $924 $1,045 $1,254 $1,661 $1,914
2022 Pendleton, KY 40055 Low Rent (90%) $675 $792 $945 $1,260 $1,449
Average Rent $750 $880 $1,050 $1,400 $1,610
High Rent(110%) $825 $968 $1,155 $1,540 $1,771
2021 Pendleton, KY 40055 Low Rent (90%) $711 $837 $1,008 $1,350 $1,548
Average Rent $790 $930 $1,120 $1,500 $1,720
High Rent (110%) $869 $1,023 $1,232 $1,650 $1,892
2020 Pendleton, KY 40055 Low Rent (90%) $738 $855 $1,044 $1,404 $1,593
Average Rent $820 $950 $1,160 $1,560 $1,770
High Rent(110%) $902 $1,045 $1,276 $1,716 $1,947
2019 Pendleton, KY 40055 Low Rent (90%) $756 $864 $1,071 $1,458 $1,638
Average Rent $840 $960 $1,190 $1,620 $1,820
High Rent (110%) $924 $1,056 $1,309 $1,782 $2,002


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