Location: Owen County, KY | Metro: Owen County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
U.S. Census Bureau data (2024)
The rental landscape in ZIP code 40363 presents unique challenges and opportunities for both renters and landlords alike. Given the lack of specific data on median income and market rates, it's clear that the area is underrepresented in typical housing studies. However, with a voucher payment standard set at $950 for the metro area in fiscal year 2026, we can draw some conclusions.
Considering the voucher payment of $950, this figure represents a significant portion of potential renter's budgets, especially in light of the missing median income data which suggests financial constraints among residents. This implies that renters relying on vouchers will find them essential for covering their housing costs, as they likely cannot afford higher market rates without substantial financial assistance.
The data shows an extremely low percentage of renters, at 0.0%, with only 9 individuals making up the total population. This indicates a predominantly owner-occupied area with minimal competition among landlords for rental properties. The scarcity of renters also means that the demand for rental units is exceptionally low, which could lead to prolonged vacancy periods for any rental properties available.
In terms of affordability, the gap between the voucher payment standard and the unknown market rate suggests that renters without vouchers face considerable difficulty in finding affordable housing. For landlords, this means that while cash-paying tenants might be few, those who qualify for vouchers are more likely to be able to afford rent, making voucher tenants a more reliable source of income.
The takeaway for landlords is that focusing on accepting vouchers could provide a more stable tenant base in ZIP 40363. While the number of voucher holders is also likely to be limited, it offers a better chance of securing consistent rental income compared to the unpredictable market for cash-paying tenants in such a sparsely populated area.
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.