HUD Fair Market Rent · FY 2026 · effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in Franklin County, Kentucky (FY 2026)
A two-bedroom in Franklin County carries a FY 2026 Fair Market Rent of $1,083 a month, effective October 1, 2025 through September 30, 2026. Everything Section 8 pays in Franklin keys off that figure.
2 bedroom FMR
$1,083
FY 2026, utilities included
Payment standard range
$975 to $1,191
90% to 110% of FMR
Income to afford 2BR
$43,320
per year, at 30% of income
Rank in Kentucky
28th of 120
by 2BR FMR
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in Franklin moves to $1,145. That's up 6%. The full FY 2027 table is in the history section below.
HUD's number is one input. What does a two-bedroom in Franklin actually rent for?
Search any address in Franklin for a rent estimate built from nearby comps, with the HUD figure right next to it.
FY 2026 Fair Market Rents
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2025 |
|---|---|---|---|---|---|
| Studio | $747 | $672 to $822 | $29,880 | $14.37/hr | +0.8% |
| 1 bedroom | $859 | $773 to $945 | $34,360 | $16.52/hr | +2.4% |
| 2 bedroom | $1,083 | $975 to $1,191 | $43,320 | $20.83/hr | +1.8% |
| 3 bedroom | $1,410 | $1,269 to $1,551 | $56,400 | $27.12/hr | +0.9% |
| 4 bedroom | $1,680 | $1,512 to $1,848 | $67,200 | $32.31/hr | +0.6% |
5 to 8 bedrooms (PropMetrics estimates)
HUD stops at four bedrooms. These add 15% of the four-bedroom rent per extra bedroom. It's our estimate, not a HUD number.
| Bedrooms | Estimated FMR | Payment standard |
|---|---|---|
| 5 bedroom Estimate | $1,932 | $1,739 to $2,125 |
| 6 bedroom Estimate | $2,184 | $1,966 to $2,402 |
| 7 bedroom Estimate | $2,436 | $2,192 to $2,680 |
| 8 bedroom Estimate | $2,688 | $2,419 to $2,957 |
Source: HUD Office of Policy Development and Research, FY 2026 Fair Market Rents. Rents include utilities. huduser.gov
Fair Market Rent is HUD's estimate of what a modest, decent unit rents for in an area, utilities included. It's set once a year and runs October to September. For FY 2026 that's October 1, 2025 through September 30, 2026. In Franklin, that runs from $747 for a studio up to $1,680 for four bedrooms, all five rates in the table above.
Because Franklin sits outside any HUD metro area, its rate is a county-wide figure built from local rents. One number covers every address in the county, Frankfort included.
Among Kentucky's 120 counties, Franklin ranks 28th for two-bedroom FMR. That's about 20% above the state median of $900 and about 6% above the national median county at $1,018. About 51,475 people live here, 19th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,080 in 40602 (Frankfort) and $1,090 in 40601 (Frankfort), with the 4 ZIP codes in between. Housing authorities in HUD-designated metros use those ZIP rates instead of the county rate. Everywhere else the ZIP numbers show where rents actually sit, and the county rate stays the official standard.
What a voucher pays here
The voucher doesn't pay the FMR itself. It pays the payment standard. Housing authorities set it anywhere from 90% to 110% of FMR, which puts a two-bedroom standard in Franklin somewhere between $975 and $1,191. The tenant pays roughly 30% of their income, the voucher covers the rest up to the standard, and the PHA won't approve a rent above what comparable unassisted units get.
$1,083 a month is affordable, by HUD's 30% rule, on an income of roughly $43,320 a year. Put another way, $21 an hour full time.
Worked example for a two-bedroom, assuming the rent equals the payment standard. Tenant pays 30% of monthly income, HUD's housing assistance payment covers the rest.
| Monthly household income | Tenant pays (30%) | HAP at 90% ($975) | HAP at 100% ($1,083) | HAP at 110% ($1,191) |
|---|---|---|---|---|
| $2,500 | $750 | $225 | $333 | $441 |
| $4,000 | $1,200 | $0 | $0 | $0 |
Rate history
The two-bedroom rate went up 2% from FY 2025 ($1,064) to FY 2026 ($1,083). Since FY 2020 it's up 45% in total, about 6.3% a year. The Kentucky median moved up 3% over the same year.
| Year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $493 | $630 | $749 | $991 | $1,193 | — |
| FY 2021 | $530 | $654 | $783 | $1,047 | $1,300 | +4.5% |
| FY 2022 | $559 | $660 | $793 | $1,066 | $1,327 | +1.3% |
| FY 2023 | $638 | $732 | $909 | $1,209 | $1,505 | +14.6% |
| FY 2024 | $731 | $831 | $1,042 | $1,373 | $1,687 | +14.6% |
| FY 2025 | $741 | $839 | $1,064 | $1,397 | $1,670 | +2.1% |
| FY 2026 | $747 | $859 | $1,083 | $1,410 | $1,680 | +1.8% |
| FY 2027 | $797 | $909 | $1,145 | $1,466 | $1,811 | +5.7% |
Nearby counties
Questions people ask
$1,083 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $747 for a studio, $859 for one bedroom, $1,410 for three and $1,680 for four.
Tools for this county
Fair Market Rent lookup
Look up any ZIP code's Small Area FMR by bedroom count.
Section 8 rent calculator
Work out the payment standard and tenant share for a specific rent.
What is Fair Market Rent?
How HUD calculates FMR and what it means for landlords.
Rent affordability calculator
See what income a household needs for a given rent.
What does a rental in Franklin actually go for?
HUD's number is one input. Search any address in Franklin for a rent estimate built from nearby comps. 3 free searches, no card.
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