HUD Fair Market Rent · FY 2026 · effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in Madison County, Kentucky (FY 2026)
A two-bedroom in Madison County carries a FY 2026 Fair Market Rent of $904 a month, effective October 1, 2025 through September 30, 2026. Everything Section 8 pays in Madison keys off that figure.
2 bedroom FMR
$904
FY 2026, utilities included
Payment standard range
$814 to $994
90% to 110% of FMR
Income to afford 2BR
$36,160
per year, at 30% of income
Rank in Kentucky
59th of 120
by 2BR FMR
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in Madison moves to $993. That's up 10%. The full FY 2027 table is in the history section below.
HUD's number is one input. What does a two-bedroom in Madison actually rent for?
Search any address in Madison 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 | $666 | $599 to $733 | $26,640 | $12.81/hr | -10.0% |
| 1 bedroom | $785 | $707 to $864 | $31,400 | $15.10/hr | -4.8% |
| 2 bedroom | $904 | $814 to $994 | $36,160 | $17.38/hr | -4.2% |
| 3 bedroom | $1,257 | $1,131 to $1,383 | $50,280 | $24.17/hr | -5.0% |
| 4 bedroom | $1,416 | $1,274 to $1,558 | $56,640 | $27.23/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 | $1,628 | $1,465 to $1,791 |
| 6 bedroom Estimate | $1,841 | $1,657 to $2,025 |
| 7 bedroom Estimate | $2,053 | $1,848 to $2,258 |
| 8 bedroom Estimate | $2,266 | $2,039 to $2,493 |
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 Madison, that runs from $666 for a studio up to $1,416 for four bedrooms, all five rates in the table above.
Because Madison 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, Berea included.
Among Kentucky's 120 counties, Madison ranks 59th for two-bedroom FMR. That's within a couple percent of the state median of $900 and about 11% below the national median county at $1,018. About 92,955 people live here, 9th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $880 in 40403 (Berea) and $950 in 40475 (Richmond), with the 6 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 Madison somewhere between $814 and $994. 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.
$904 a month is affordable, by HUD's 30% rule, on an income of roughly $36,160 a year. Put another way, $17 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% ($814) | HAP at 100% ($904) | HAP at 110% ($994) |
|---|---|---|---|---|
| $2,500 | $750 | $64 | $154 | $244 |
| $4,000 | $1,200 | $0 | $0 | $0 |
Rate history
The two-bedroom rate went down 4% from FY 2025 ($944) to FY 2026 ($904). Since FY 2020 it's up 28% in total, about 4.2% 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 | $482 | $535 | $705 | $1,001 | $1,004 | — |
| FY 2021 | $531 | $554 | $730 | $1,002 | $1,005 | +3.5% |
| FY 2022 | $558 | $575 | $732 | $989 | $993 | +0.3% |
| FY 2023 | $641 | $650 | $783 | $1,055 | $1,059 | +7.0% |
| FY 2024 | $750 | $794 | $914 | $1,288 | $1,301 | +16.7% |
| FY 2025 | $740 | $825 | $944 | $1,323 | $1,407 | +3.3% |
| FY 2026 | $666 | $785 | $904 | $1,257 | $1,416 | -4.2% |
| FY 2027 | $691 | $859 | $993 | $1,375 | $1,600 | +9.8% |
Nearby counties
Questions people ask
$904 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $666 for a studio, $785 for one bedroom, $1,257 for three and $1,416 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 Madison actually go for?
HUD's number is one input. Search any address in Madison for a rent estimate built from nearby comps. 3 free searches, no card.
Free tier. No credit card.