Location: Montgomery County, KY | Metro: Bath 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 | $650 |
| 1 Bedroom | $690 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,130 |
| 4 Bedrooms | $1,310 |
| 5 Bedrooms | $1,520 |
| 6 Bedrooms | $1,702 |
| 7 Bedrooms | $1,838 |
| 8 Bedrooms | $1,930 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $910 | $159,832 | 0.57% | F |
| 3BR | $1,130 | $208,525 | 0.54% | F |
| 4BR | $1,310 | $273,444 | 0.48% | F |
U.S. Census Bureau data (2024)
The ZIP code 40360, located in Owingsville, KY, within Bath County, has a unique demographic profile that sets it apart from other areas. With a population of 7,595 residents, Owingsville has a rental rate of 29.0%, indicating a significant portion of the community opts for renting over homeownership. The median income in this area stands at $55,193, which is relatively modest compared to the median home value of $176,869. This suggests that homeownership is a significant financial commitment for local residents.
Moving into the specifics of voucher economics, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $870, while the actual market rent, according to the Census ACS, is $584. This discrepancy highlights an opportunity for landlords who can offer units at or near the market rate but still qualify for higher voucher payments. Landlords in Owingsville should consider the potential to attract tenants who receive Section 8 assistance, as the voucher amount exceeds the typical market rent by a substantial margin. This could provide a steady source of income and reduce the risk of vacancy.
Based on the data signature, Owingsville appears to be a stable market. The modest income levels coupled with a higher median home value indicate that homeownership is less common among lower-income residents, making the rental market a critical component of the local housing ecosystem. The fact that the FMR is significantly higher than the market rent suggests that there is a strong demand for affordable housing, which can be met through Section 8 vouchers. For small-portfolio investors and landlords, Owingsville presents a solid investment opportunity with predictable economic conditions.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.