Renting · Section 8
Data from November 2026
Renting in Madison County, Kentucky
Madison County has a HUD fair market rent of $993 a month for 2 bedrooms (Fiscal year 2027). Renter households here pay a typical rent of $889 a month (Average 2020–2024). Paying the fair market rent without going over 30% of income takes $19.10 an hour, full time.
Four numbers to start with
- Fair market rent, 2 bedrooms
- $993
- a month, HUD, Fiscal year 2027
- 14% less than in Kentucky
- Typical rent
- $889
- a month, Census, Average 2020–2024
- 8% less than in Kentucky
- Wage needed
- $19.10
- an hour, 2 bedrooms
- Or $39,720 a year, to spend no more than 30% of income on rent.
- Rent-burdened households
- 45%
- spend 30% or more of income on rent
- 2% less than in Kentucky
Only here
Renting in Madison County: what sets it apart
What this place has that others do not, from public data, most unusual first.
-
Nearby, in Estill County, the typical rent is $711: 20% less than in Madison County ($889).
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At 62%, Madison County ranks 7th among the 120 counties in Kentucky for the lowest homeownership rate.
Sources: U.S. Census Bureau (Average 2020–2024).
Fair market rent
What HUD sets for each size
Every year HUD (the U.S. Department of Housing and Urban Development) publishes a Fair Market Rent (FMR) for each home size in Madison County. It is used to work out how much a Section 8 voucher covers. The table shows what you need to earn to pay it without spending more than 30% of income.
The fair market rent covers rent plus basic utilities, except the phone. HUD generally sets it at the 40th percentile: 4 in 10 standard-quality homes rented recently cost less. 24 CFR §888.113(a)
According to Zillow (ZORI), the typical asking rent in Madison County was $1,069 a month in September 2026: 1.9% more than 12 months ago. It is an index of market listings, not a HUD limit. Zillow data
| Size | Fair rent per month | Hourly wage | Income needed per year |
|---|---|---|---|
| Studio | $691 | $13.29 | $27,640 |
| 1 bedroom | $859 | $16.52 | $34,360 |
| 2 bedrooms | $993 | $19.10 | $39,720 |
| 3 bedrooms | $1,375 | $26.44 | $55,000 |
| 4 bedrooms | $1,600 | $30.77 | $64,000 |
HUD area: Madison County, KY. Source: HUD, Fiscal year 2027
By ZIP code
The fair market rent for your ZIP code
HUD also publishes fair market rents by ZIP code (Small Area FMRs) for 7 ZIP codes in Madison County (Fiscal year 2027). Type yours to see it.
For 2 bedrooms they run from $940 in 40403 to $1,030 in 40475. 1 ZIP code is above the county's fair market rent ($993).
Where HUD designates these areas, or where the housing agency chooses to use them, the voucher is figured on the ZIP code's rent instead of the county's. Ask your agency which one it uses. 24 CFR §982.503(a)(1)
| 40385 | Estill County, KY | $690 | $860 | $980 | $1,320 | $1,540 |
|---|---|---|---|---|---|---|
| 40385 | Madison County, KY | $690 | $860 | $980 | $1,320 | $1,540 |
| 40403 | Garrard County, KY | $660 | $820 | $940 | $1,300 | $1,500 |
| 40403 | Madison County, KY | $660 | $820 | $940 | $1,300 | $1,500 |
| 40403 | Rockcastle County, KY | $660 | $820 | $940 | $1,300 | $1,500 |
| 40404 | Madison County, KY | $660 | $820 | $940 | $1,300 | $1,500 |
| 40475 | Madison County, KY | $720 | $890 | $1,030 | $1,430 | $1,660 |
- 40385 · Estill County, KY $980$1,320
- 40385 · Madison County, KY $980$1,320
- 40403 · Garrard County, KY $940$1,300
- 40403 · Madison County, KY $940$1,300
- 40403 · Rockcastle County, KY $940$1,300
- 40404 · Madison County, KY $940$1,300
- 40475 · Madison County, KY $1,030$1,430
Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) (external site)
Rent burden
How many households spend too much
HUD counts rent as a burden when it reaches 30% of income or more. In Madison County, 45% of renter households are in that position; in Kentucky, 45%, and nationwide, 51% (Average 2020–2024, Census).
Paying too much rent leaves little for food, transportation and savings. If that is you, the agencies below can guide you for free.
45%
of renter households spend 30% or more of their income on rent.
14,086 households rent in Madison County
- Spend half or more of their income 21%
- Spend 30% or more, but less than half 24%
- Spend less than 30% 55%
Compared with the state and the country
- Madison 45%
- Kentucky 45%
- United States 51%
Low-income apartments
Low-income apartments in Madison County
HUD lists 20 properties with homes for low-income households in Madison County: tax-credit apartments (LIHTC), HUD-assisted buildings and public housing. They run from the most low-income homes to the fewest.
- with tax credits (LIHTC)
- 12
- HUD-assisted
- 5
- public housing
- 3
1,192 homes in all; 1,182 of them low-income, according to HUD.
- B E Willis Manor Public housing 502 Ellis Ct, Richmond 40475 186 low-income homes · Run by Housing Authority of Richmond · Average payment: $298 a month · Average wait: 8 months · (859) 623-1321
- Richmond Manor Apartments HUD-assisted 743B N 3rd St, Richmond 40475 138 homes, 132 low-income · For families · (859) 624-9410
- Smith Village Public housing 414 Smith Vlg, Richmond 40475 106 homes, 105 low-income · Run by Housing Authority of Richmond · Average payment: $340 a month · Average wait: 12 months · (859) 623-1321
- Madison Towers Tax credit (LIHTC) N. Madison Ave., Richmond 40475 102 low-income homes · 1 bd: 101 · 2 bd: 1 · In service since 2016 · For older adults
- Madison Tower HUD-assisted 225 N Madison Ave, Richmond 40475 102 homes, 101 low-income · For older adults · (859) 623-6067
- Madison Avenue Apartments HUD-assisted 241 N Madison Ave, Richmond 40475 79 low-income homes · For families · (859) 623-6050
- Sugar Mill Hope Vi Apartments Tax credit (LIHTC) Versailles Road, Lexington 40404 61 homes, 60 low-income · 1 bd: 12 · 2 bd: 41 · 3 bd: 8 · In service since 2004 · For families
- Clay Fee Homes Public housing 111 Rogers St, Berea 40403 60 low-income homes · Run by Housing Authority of Berea · Average payment: $394 a month · Average wait: 19 months · (859) 986-4436
- Richmond Green Tax credit (LIHTC) Richmond Green DR., Richmond 40475 60 low-income homes · 1 bd: 20 · 2 bd: 40 · In service since 1998
- Pebblecreek Crossing Tax credit (LIHTC) Big Hill Avenue, Richmond 40475 48 low-income homes · 1 bd: 27 · 2 bd: 21 · In service since 2017 · For older adults
- 12th Street Hope Vi Apartments Tax credit (LIHTC) 12th ST, Lexington 40405 40 low-income homes · 1 bd: 26 · 2 bd: 4 · 3 bd: 10 · In service since 2004 · For families
- Eastern Scholar House Tax credit (LIHTC) Van Hoose Drive, Richmond 40475 39 low-income homes · 2 bd: 39 · In service since 2017 · For families
- Liberty Place Recovery Center for Women Tax credit (LIHTC) Lake Street, Richmond 40475 38 low-income homes · 4 bd: 38 · In service since 2008
- Berea Single Family Homes Tax credit (LIHTC) Whitehall DR., Berea 40403 24 low-income homes · 4 bd: 24 · In service since 1999
- Brandy View Apartments Tax credit (LIHTC) Brandy LN., Richmond 40475 24 low-income homes · 2 bd: 16 · 3 bd: 8 · In service since 1997
- Silver Creek Place Tax credit (LIHTC) Miracle DR., Berea 40403 24 low-income homes · 1 bd: 24 · In service since 2012 · For older adults
- Telford Apartments Tax credit (LIHTC) Hallie Irvine ST., Richmond 40475 24 low-income homes · 1 bd: 1 · 2 bd: 11 · 3 bd: 10 · 4 bd: 2 · In service since 1996 · For older adults, families
- Burchwood Lease Purchase Project Tax credit (LIHTC) Burchwood Drive, Berea 40403 18 low-income homes · 3 bd: 20 · In service since 1999 · For families
- Bivins Place HUD-assisted 1019 Danielle Ct, Richmond 40475 11 homes, 10 low-income · For people with disabilities · (859) 626-9065
- Roselawn Subdivision HUD-assisted 102 Gregory St, Berea 40403 8 low-income homes · For families · (859) 986-9810
Source: HUD, retrieved November 6, 2026. LIHTC database, updated May 14, 2025; Assisted multifamily properties, updated October 23, 2026; Public housing developments, updated October 23, 2026.
Section 8
The Section 8 voucher in Madison County
The Housing Choice Voucher (Section 8) pays part of your rent on a home you choose. Your public housing agency runs it. 3 agencies serve in Madison County. Here is what the rules say:
The rules, with their source
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You apply at the public housing agency. If you qualify, your name usually goes on a waiting list. Applicants must be U.S. citizens or noncitizens with eligible status as HUD defines it. Source: HUD
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Generally, your family must have very low income: no more than 50% of the area median income, by family size (the middle column of the table). Source: 24 CFR §5.603, §982.201(b)
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Each year, at least 75% of the families an agency admits from its list must have extremely low income (the 30% column). Source: 24 CFR §982.201(b)(2)
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If the rent is below the payment standard, the family generally pays 30% of its adjusted monthly income. If it is above, the family pays more. Source: 24 CFR §982.1(a)(3)
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When you move in, if the rent is above the payment standard, your share cannot go over 40% of your adjusted monthly income. Source: 24 CFR §982.508
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Each agency sets a payment standard for each size. Without asking HUD, it can go from 90% to 110% of the fair market rent. Source: 24 CFR §982.503(b), (c)
| People | Extremely low (30%) | Very low (50%) | Low |
|---|---|---|---|
| 1 person | $18,050 | $30,050 | $48,100 |
| 2 people | $21,640 | $34,350 | $54,950 |
| 3 people | $27,320 | $38,650 | $61,800 |
| 4 people | $33,000 | $42,900 | $68,650 |
| 5 people | $38,680 | $46,350 | $74,150 |
| 6 people | $44,360 | $49,800 | $79,650 |
| 7 people | $50,040 | $53,200 | $85,150 |
| 8 people | $55,720 | $56,650 | $90,650 |
Area median income: $85,800. HUD income limits by family size, Fiscal year 2026. Area: Madison County, KY. Source: HUD, Fiscal year 2026
Possible payment standard
- Studio $622 – $760
- 1 bedroom $773 – $945
- 2 bedrooms $894 – $1,092
- 3 bedrooms $1,238 – $1,513
- 4 bedrooms $1,440 – $1,760
The range the rule allows: 90% to 110% of the county's fair market rent. Your agency publishes its own.
Housing agencies that serve this place
- City of Richmond Section 8 Housing Program Section 8 vouchers · 774 vouchers (859) 353-5501 City of Richmond Section 8 Housing Program: section8@richmond.ky.us
- Housing Authority of Richmond Public housing · 291 public housing units (859) 623-1321 Housing Authority of Richmond: harichky@gmail.com
- Housing Authority of Berea Public housing · 60 public housing units (859) 986-4436 Housing Authority of Berea: berhousing@windstream.net
Housing agencies in Kentucky Source: HUD, Retrieved November 6, 2026
Your rights as a tenant in Kentucky
What Kentucky law says about deposits, notices and eviction, with the citation for each rule.
See your rights, rule by ruleCompare these rules with other states →
A summary of state law, not legal advice. Cities may have additional rules.
- If I fall behind on rent, what notice must I get?
- 7 days
- KRS 383.660(2)
- Only a court order can remove youKRS 383.690
- Protection from retaliationKRS 383.705(1)
- Repair and deduct from the rentKRS 383.635(1)
Help
Where to get help with rent in Madison County
These are the nearest HUD-approved agencies. They counsel for free or at low cost.
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Apprisen - Lexington
3499 Blazer Pkwy, Lexington · 21 miles away
- Mortgage delinquency and default
- Budget and financial counseling
- and 2 more
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Community Ventures Corporation
1450 N Broadway, Lexington · 26 miles away
- Mortgage delinquency and default
- Budget and financial counseling
- and 5 more
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Reach, Inc.
733 Red Mile Rd, Lexington · 26 miles away · Spanish
- Mortgage delinquency and default
- Budget and financial counseling
- and 5 more
Tool
How much cash do you need to move in?
It starts with the 2-bedroom fair market rent in Madison County. Change the rent, the deposit and the fees to yours: the numbers stay in your browser.
Count power on top of the rent: in Kentucky, the average home bill was $134 a month in 2024 (EIA). See electricity and gas costs
Your move
We use the place's fair market rent and the state's deposit rule.
Adjust advanced details
Let's do the math
Cash to move in
$1,986
What you need before you get the keys.
What adds up
- First month
- $993
- Security deposit
- $993
- Total
- $1,986
When you'll have it
Enter what you can set aside each month to see how long it takes.
What helps
- Ask for a receipt for every payment and keep a copy of the lease.
- On move-in day, walk through the home and take dated photos.
- Never send money for a home you haven't seen or a lease you haven't read.
This is a planning estimate, not a price. What you are asked for depends on the landlord, your lease and your state's and city's rules. It is not legal advice.
Frequently asked questions
What is the fair market rent in Madison County?
According to HUD (Fiscal year 2027): Studio: $691; 1 bedroom: $859; 2 bedrooms: $993; 3 bedrooms: $1,375; 4 bedrooms: $1,600. It covers rent plus basic utilities, except the phone.
How much do you need to earn to rent in Madison County?
Paying the 2-bedroom fair market rent ($993) without spending more than 30% of income takes $19.10 an hour full time, or $39,720 a year.
Who qualifies for Section 8 in Madison County?
Generally, families with very low income: no more than 50% of the area median income. For 4 people, HUD's limit here is $42,900 a year (Fiscal year 2026). The family usually pays 30% of its adjusted monthly income. You apply at the housing agency.
How much does Section 8 pay in Madison County?
The voucher pays up to your housing agency's payment standard, minus your share. The rule lets the agency set it between 90% and 110% of the fair market rent: for 2 bedrooms here, between $894 and $1,092 a month. Your agency publishes its figure.
Does the fair market rent change by ZIP code in Madison County?
For 2 bedrooms they run from $940 in 40403 to $1,030 in 40475. Where HUD designates these areas, or where the housing agency chooses to use them, the voucher is figured on the ZIP code's rent instead of the county's. Ask your agency which one it uses.
How many low-income apartments are there in Madison County?
HUD lists 20 properties with homes for low-income households in Madison County: tax-credit apartments (LIHTC), HUD-assisted buildings and public housing. They run from the most low-income homes to the fewest. For tax-credit apartments and HUD-assisted buildings, you apply directly at the building's management office. They tell you whether units are open and how to apply; HUD does not have that information.
How many households spend too much on rent in Madison County?
HUD counts rent as a burden when it reaches 30% of income or more. In Madison County, 45% of renter households are in that position; in Kentucky, 45%, and nationwide, 51% (Average 2020–2024, Census).