Location: Rockcastle County, KY | Metro: Rockcastle County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,170 |
| 4 Bedrooms | $1,270 |
| 5 Bedrooms | $1,473 |
| 6 Bedrooms | $1,650 |
| 7 Bedrooms | $1,782 |
| 8 Bedrooms | $1,871 |
U.S. Census Bureau data (2024)
The investment landscape for Section 8 properties in ZIP code 40460 presents several challenges that landlords must consider. Tenant turnover is a significant concern, with the market rent at $838 falling below the Fair Market Rent (FMR) of $870 for the metro area in fiscal year 2026. This discrepancy suggests that tenants might be more likely to seek higher-rent properties, increasing turnover rates.
Vacancy exposure is another critical issue. The average days on market (DOM) for properties in this area is not available, which makes it difficult to predict how long a property might remain vacant. A prolonged vacancy can lead to significant financial losses for landlords, especially when relying on rental assistance programs like Section 8.
Deferred maintenance is also a risk factor. With a typical home value of $116,407 and a median income of $35,417, homeowners in ZIP 40460 may struggle to keep up with necessary repairs and improvements, potentially leading to lower-quality housing stock. This could impact the desirability of properties for both tenants and landlords.
However, these risks are offset by the high concentration of renters in the area, with 10.6% of residents classified as renters. High renter density typically translates into greater demand for rental assistance vouchers, making it easier for landlords to find tenants who qualify for Section 8.
In conclusion, the investment risk for a first-time Section 8 landlord in ZIP 40460 is moderate. While there are notable challenges such as tenant turnover and deferred maintenance, the high renter share offers a stable pool of potential tenants.
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.