Location: Powell County, KY | Metro: Powell County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 40376 is set at $870 for the fiscal year 2026. This figure represents the payment standard for Section 8 housing vouchers in the area, which means that if you participate in the program, you will receive this amount per month from the government to cover part or all of your tenant's rent. It is important to note that this is not the rent you can charge; it is the maximum amount the voucher will cover.
In ZIP 40376, the local market rent is currently listed as N/A, which indicates that there might be limited data available on typical rental prices in the area. However, the FMR of $870 can serve as a benchmark to understand what the government considers fair for the region. If you're setting your rent, ensure it does not exceed this amount for Section 8 tenants.
The 0.0% renter share suggests that there is currently no share of rent required from the tenant themselves, meaning the full amount of $870 would come directly from the government. This can be beneficial for landlords who want a guaranteed income stream without relying on tenants' ability to pay a portion of the rent.
The acquisition cost, also listed as N/A, typically refers to the cost of obtaining a property in the area. While this specific data point is missing, it's crucial to consider the overall cost of acquiring a property and the potential return on investment when deciding whether to participate in Section 8.
Before making the decision to accept a Section 8 tenant, verify that your property meets the Housing Quality Standards (HQS). These standards are set by the government to ensure that homes rented through Section 8 are safe, decent, and sanitary. Ensuring compliance with HQS will help avoid any issues that could delay or prevent your participation in the program.
Participating in Section 8 can provide steady, government-backed rental income, but it comes with responsibilities such as maintaining the property to certain standards and possibly dealing with administrative processes. For landlords and small-portfolio investors in ZIP 40376, understanding these dynamics is key to making an informed decision about joining the program.
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.