41815 Ermine, KY Fair Market Rent

What rent in ZIP 41815 actually means

HUD does not publish Fair Market Rents at the ZIP code level, it publishes them per FMR area, which is either a metropolitan statistical area or a non-metro county. ZIP 41815 (Ermine, KY) sits inside Letcher, so HUD's FY 2026 FMR for this ZIP is the county FMR: $759 for a 1-bedroom, with a studio at $619, 2-bedroom at $866, 3-bedroom at $1,166, and 4-bedroom at $1,316. These figures represent the 40th percentile of gross rents (including utilities except telephone), meaning roughly 60% of standard-quality units in the FMR area rent for more. Section 8 Housing Choice Voucher payment standards are set between 90% and 110% of this FMR.

Because HUD uses county-level FMR, every ZIP inside Letcher shares the same baseline, a wealthy ZIP and a lower-cost ZIP in the same county will both show identical HUD figures even when street-level market rents differ substantially. Some metro areas participate in HUD's Small Area FMR program, which replaces a single metro FMR with ZIP-specific FMRs to give voucher holders access to higher-opportunity neighborhoods; if ZIP 41815 falls inside a SAFMR metro, its effective payment standard may differ. Against the national benchmark the 1-bedroom FMR here is 21% below the US average of $959, and 4% below the KY state average of $794. Year-over-year, the 1-bedroom moved up0.5% from FY 2025 ($755) to FY 2026.

For budgeting, the 30% affordability rule says rent should not exceed 30% of gross household income. At the FY 2026 1-bedroom FMR of $759, that implies a household income of $30,360 per year (about $2,530/month) to avoid being cost-burdened, a 2-bedroom at $866 lifts that threshold higher still. ZIP 41815 has a population of 802 residents, so the gap between these FMR figures and local wages shapes how many households qualify as rent-burdened (paying more than 30% of income) or severely burdened (above 50%). For renters comparing ZIP codes inside Letcher, FMR will be identical, the real variation comes from school quality, commute, and private-market premiums not captured in HUD data.