Location: Meade County, KY | Metro: Meade County, KY HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
U.S. Census Bureau data (2024)
The ZIP code 40104 stands out within its county due to a unique combination of factors that influence its real estate dynamics. With only 1,143 residents, it has a notably low rental rate at 6.7%, indicating that most residents own their homes. The median income in this area is $71,111, which suggests a middle-class population. The median home value is significantly high at $240,421, reflecting a strong housing market.
In terms of voucher economics, the Fair Market Rent (FMR) for ZIP 40104 in fiscal year 2024 is set at $1,040. This figure is crucial for landlords and small-portfolio investors as it represents the maximum amount that can be charged for a Section 8 rental unit. However, the lack of specific market rent data means that the FMR is likely to serve as a benchmark for setting rental prices in this area.
The data signature for ZIP 40104 reads as stable. The relatively high median home value and middle-class income levels indicate a consistent economic environment where homeownership is prevalent. Despite the limited rental market, the established FMR provides a reliable guideline for those interested in participating in the Section 8 program. Landlords should consider these factors when evaluating investment opportunities in this ZIP code.
Data Summary:Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.