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RentData.org Logo Madison County Fair Market Rent FY 2022 Madison County, KY Rental Data

Fair Market Rent Prices in Madison County, KY :
$558 $575 $732 $989 $993
Studio / Efficiency 1-Bedroom 2-Bedroom 3-Bedroom 4-Bedroom
0-BR 1-BR 2-BR 3-BR 4-BR
Affordable 40th Percentile Non-Metro

Fair Market Rent prices in Madison County are very low compared to the national average. This FMR area is less expensive than 79% of other FMR areas. Fair Market Rent for a two-bedroom apartment in Madison County is $732 per month.

The previous year, rent for a two-bedroom home was $730 per month. This is a 0.27% increase year-over-year.

This FMR rate applies to Bighill, KY, Richmond, KY and other cities within the region. The Metro Code or CBSA code for this region is NCNTY21151N21151.

Additionally, This Fair Market Rent (FMR) area Madison County, KY spans one county or city in Kentucky which is listed in the table below. Estimated population of Madison County, KY FMR area is 88,375 people based on latest Census data.

Compared to the rest of Kentucky, the Madison County FMR area is more expensive than 75% of the state.

Kentucky Rents Map

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What is Fair Market Rent?

Fair Market Rent is determined each fiscal year by the HUD and is used to set payment standards for federal housing assistance programs in Madison County. Fair Market Rent is the 40th-percentile of typical rentals in a given region. Learn more

Median Rent Prices in Madison County

To compute the 40th percentile of rent prices the HUD must determine the median or 50th percentile as well. 50th percentile rent prices are NOT fair market rents (unless otherwise noted as a 50th percentile designated region above). However, some home owners or rents may be interested in the median rent prices as well.

50th Percentile Rental Prices:
0-BR Studio / Efficiency $ 586
1-BR 1-Bedroom $ 605
2-BR 2-Bedroom $ 770
3-BR 3-Bedroom $ 1040
4-BR 4-Bedroom $ 1044
Change Year:
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

There is just one county (listed below) within the Madison County, KY FMR area (most regions, especially metro areas, cover multiple counties). This FMR area covers one metro area: Lexington.

County / Region Est. Population
Madison County, KY 88,375
Zip Codes in Madison County, KY

There are 3 unique zip codes in this Fair Market Rent (FMR) area:

40405, 40475 and 40476

Lookup Fair Market Rent by Zip Code

What's Next?

Here are some additional resources you may also be interested in:

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