Location: Elizabethtown, KY | Metro: Elizabethtown, KY HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,520 |
| 4 Bedrooms | $1,840 |
| 5 Bedrooms | $2,134 |
| 6 Bedrooms | $2,390 |
| 7 Bedrooms | $2,581 |
| 8 Bedrooms | $2,710 |
The ZIP code 40159 in Elizabethtown County, KY, stands out due to limited data availability, which presents both challenges and opportunities for landlords and small-portfolio investors. The lack of specific resident numbers, rental percentages, median income, and median home values indicates that this area might be less studied or monitored compared to others, suggesting a niche market where fewer players compete.
Despite the scarcity of detailed local metrics, the Fair Market Rent (FMR) for ZIP 40159 is set at $1010 for fiscal year 2024. This figure is crucial for voucher economics, as it represents the maximum amount that the government will pay for rent and utilities through the Section 8 program. Landlords must ensure their rental rates do not exceed this amount to remain eligible for the program. While the exact market rent is not available, the FMR provides a benchmark for pricing units in this ZIP code.
The absence of comprehensive data points such as the percentage of renters and median income levels means that landlords and investors must rely on broader regional trends and conduct thorough market research to understand the economic landscape. However, this also implies that there could be untapped potential in terms of tenant demand, especially if the local economy is robust but underreported.
Given the incomplete data signature, ZIP 40159 can be characterized as transitional. This classification is based on the assumption that areas with sparse data often undergo changes in population dynamics, economic conditions, and housing markets. As such, landlords and small-portfolio investors should prepare for fluctuations and be ready to adapt their strategies accordingly. Engaging in proactive community development and maintaining competitive rental rates could position properties favorably in this evolving market.
Data Sources: FMR data from HUD (2027).
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.