Location: Casey County, KY | Metro: Boyle 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 | $690 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,160 |
| 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 |
|---|---|---|---|---|
| 3BR | $1,160 | $243,615 | 0.48% | F |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP code 40464 is poised for stability rather than significant growth over the next 12-24 months. With a median home value set at $203,122, it's clear that the area offers affordable housing options. The fact that the percentage of listings reduced and the median days on market (DOM) are currently unavailable suggests a balanced market where neither buyers nor sellers hold a strong advantage. This balance typically indicates steady prices, barring any unforeseen economic shifts.
The Fair Market Rent (FMR) for the metro area in fiscal year 2026 stands at $910. While the exact market rent figure is not provided, comparing it against the FMR can give insights into the rental market dynamics. If the local market rent is below the FMR, it signals potential for modest rent increases as the market adjusts to federal guidelines. However, if it's already at or above the FMR, landlords might face challenges in raising rents further without risking vacancy rates.
For long-term investors, the setup in ZIP 40464 implies a realistic appreciation scenario tied closely to broader economic trends and the local job market. Appreciation is unlikely to be robust, but steady growth could be expected, driven by inflation and gradual improvements in the local economy. The lack of significant percentage changes in listings or DOM supports this thesis, indicating that the market is not experiencing speculative bubbles or rapid downturns.
In summary, the data points towards a market where landlords and small-portfolio investors should focus on maintaining stable occupancy and modest rent growth. Pricing power remains moderate, and while appreciation is possible, it will likely be incremental and consistent with general 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.