Location: Breckinridge County, KY | Metro: Breckinridge County, KY
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,330 |
| 5 Bedrooms | $1,543 |
| 6 Bedrooms | $1,728 |
| 7 Bedrooms | $1,866 |
| 8 Bedrooms | $1,959 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,260 | $261,137 | 0.48% | F |
U.S. Census Bureau data (2024)
The ZIP code 40178 presents a unique challenge for both renters and landlords alike. Given the median income of $53,576, it becomes evident that the financial landscape of this area significantly influences housing affordability.
A key point of consideration is the comparison between the local market rate and the Fair Market Rent (FMR) set at $870 per month for metro areas as of fiscal year 2026. However, the absence of specific market rate data for ZIP 40178 makes direct comparison difficult. Assuming the FMR accurately reflects the local rental standards, we can infer that the affordability gap might be less pronounced than in areas with higher market rates.
The population of ZIP 40178 stands at 522, with an intriguing statistic showing that only 0.0% of these residents are categorized as renters. This indicates a predominantly owner-occupied community, which could imply a lower demand for rental properties and thus affect competition among landlords.
Despite the low percentage of renters, the FMR of $870 represents a significant portion of the median household income when considering other expenses. For landlords, this means that while there may be fewer tenants looking for housing, those who do seek rentals are likely to rely heavily on Section 8 vouchers due to the financial constraints imposed by their income levels relative to housing costs.
The takeaway for landlords in ZIP 40178 is clear: given the low number of renters and the reliance on government assistance, focusing on Section 8 voucher acceptance could be a strategic move to attract the limited rental market. However, landlords should also be prepared for potential competition from those who prefer cash-paying tenants, as the overall population size suggests a niche market where every property can make a substantial difference in availability.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.