Location: Breckinridge County, KY | Metro: Meade County, KY HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 40142 is poised for stability and potential growth over the next 12 to 24 months, based on several key indicators. The median home value stands at $271,789, suggesting that the area remains accessible for a broad range of buyers. Despite the lack of specific percentage data on reduced listings, the absence of significant price reductions indicates a strong seller's market where pricing power rests firmly with landlords and property owners.
The median days on market (DOM) being listed as N/A suggests a brisk sales pace, where homes are likely selling quickly once they're listed. This quick turnover can be a sign of high demand relative to supply, further reinforcing the notion of a favorable environment for sellers and landlords. In such a scenario, maintaining or slightly increasing rental rates can be justified without fear of vacancy increases, given the underlying strength of the housing market.
Turning to the rental side, the Fair Market Rent (FMR) for ZIP 40142 is set at $1040 for fiscal year 2024. This figure serves as a benchmark for what is considered a fair rent for a typical unit in the area. With the market rent also listed as N/A, it's reasonable to infer that current market rents align closely with or exceed the FMR, indicating healthy rental income opportunities for long-term investors. However, the lack of precise market rent data limits a more detailed comparison, which would typically help in understanding the exact premium or discount in rental rates.
For long-hold investors, the setup in ZIP 40142 implies a realistic appreciation thesis. Given the stable median home values and the brisk sales pace, there is an underlying support for property values to remain steady or potentially appreciate. The demand for both owning and renting properties in the area signals a robust local economy and a preference for living in ZIP 40142. These factors contribute to a positive outlook for property appreciation, although the exact rate cannot be specified due to incomplete data.
In conclusion, the combination of a stable median home value, quick sales, and a solid rental market suggests that ZIP 40142 will continue to offer strong returns for landlords and small-portfolio investors. Maintaining competitive rental rates and leveraging the seller's market dynamics can lead to successful investment outcomes in this ZIP code.
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.