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

Florence, KY 41022'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 41022 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 $828 to a high of $1,012, with an average of $920.
One-bedroom: One-bedroom rental prices vary, with a minimum of $945, a maximum of $1,155, and an average of $1,050.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,224, peaking at a maximum of $1,496, and averaging at $1,360.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,629, a maximum of $1,991, and an average of $1,810.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,809 to a maximum of $2,211, with an average of $2,010.

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 Florence, KY 41022 Low Rent (90%) $828 $945 $1,224 $1,629 $1,809
Average Rent $920 $1,050 $1,360 $1,810 $2,010
High Rent(110%) $1,012 $1,155 $1,496 $1,991 $2,211
2023 Florence, KY 41022 Low Rent (90%) $756 $864 $1,125 $1,503 $1,692
Average Rent $840 $960 $1,250 $1,670 $1,880
High Rent (110%) $924 $1,056 $1,375 $1,837 $2,068
2022 Florence, KY 41022 Low Rent (90%) $666 $765 $999 $1,341 $1,530
Average Rent $740 $850 $1,110 $1,490 $1,700
High Rent(110%) $814 $935 $1,221 $1,639 $1,870
2021 Florence, KY 41022 Low Rent (90%) $621 $720 $945 $1,287 $1,467
Average Rent $690 $800 $1,050 $1,430 $1,630
High Rent (110%) $759 $880 $1,155 $1,573 $1,793
2020 Florence, KY 41022 Low Rent (90%) $594 $684 $900 $1,233 $1,413
Average Rent $660 $760 $1,000 $1,370 $1,570
High Rent(110%) $726 $836 $1,100 $1,507 $1,727
2019 Florence, KY 41022 Low Rent (90%) $603 $693 $918 $1,269 $1,467
Average Rent $670 $770 $1,020 $1,410 $1,630
High Rent (110%) $737 $847 $1,122 $1,551 $1,793


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