Location: Whitley County, KY | Metro: Knox County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $680 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,170 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
U.S. Census Bureau data (2024)
The classification of ZIP code 40763 hinges on the interplay between its yield potential and market stability. With a Fair Market Rent (FMR) of $990 for the fiscal year 2026, compared to a market value of $632, it's evident that this area offers a strong rental yield advantage. The disparity between the FMR and market value suggests that properties can be rented out at rates higher than their market value, which is indicative of a high-yield market.
However, the stability of the market is less clear due to the lack of specific data points such as days on market (DOM) and median income. What we do know is that 31.5% of the population are renters, which is a moderate figure and doesn't necessarily imply instability. A high percentage of renters could mean a constant demand for rental properties, but without additional metrics like DOM, it's challenging to gauge the turnover rate and thus the market's stability.
In conclusion, based on the available data, ZIP 40763 leans towards being a high-yield market given the significant difference between the FMR ($990) and the market value ($632). However, the classification as either a flip-style market or a steady-cashflow zone cannot be definitively made without further stability indicators. The current data supports an investment strategy focused on rental income over property appreciation, but caution should be exercised until more comprehensive market stability data is obtained.
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.