Location: Lexington-Fayette, KY | Metro: Lexington-Fayette, KY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $970 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,390 |
| 3 Bedrooms | $1,910 |
| 4 Bedrooms | $2,070 |
| 5 Bedrooms | $2,401 |
| 6 Bedrooms | $2,689 |
| 7 Bedrooms | $2,904 |
| 8 Bedrooms | $3,049 |
U.S. Census Bureau data (2024)
The ZIP code 40526 is located in a small neighborhood with a total population of 2,383. This area stands out due to its unique characteristic where 100.0% of the residents are renters, indicating a strong demand for rental properties. The absence of data regarding median income and median home value suggests that these metrics might be unreliable or not reported for this particular region, which could imply a diverse economic landscape or challenges in collecting comprehensive data.
From an investment perspective, the Federal Market Rent (FMR) for ZIP 40526 in fiscal year 2024 is set at $1210. While the exact market rent is not available, the high percentage of renters and the FMR figure provide a baseline for understanding the rental dynamics in this area. Given the complete reliance on rentals, landlords and small-portfolio investors should focus on maintaining properties that meet the standards required by the Section 8 program to ensure steady occupancy and income.
Considering the practical aspects of investment, ZIP 40526 seems to favor a hands-off voucher operator over a hands-on value-add buyer. The lack of detailed economic data and the uniform nature of the housing market—where all residents are renters—suggests that there might be limited opportunities for significant property improvements or value addition. Instead, investors should prioritize properties that can be managed efficiently under the Section 8 program, ensuring compliance with HUD standards and leveraging the stable rental income provided by the vouchers.
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.