Section 8 Fair Market Rent (FMR) for ZIP 40815 - 2027

Location: Harlan County, KY | Metro: Harlan County, KY

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$690
1 Bedroom	$750
2 Bedrooms	$910
3 Bedrooms	$1,190
4 Bedrooms	$1,200
5 Bedrooms	$1,392
6 Bedrooms	$1,559
7 Bedrooms	$1,684
8 Bedrooms	$1,768

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

811

Median Household Income

$68,155

Housing Units

576

Renter Percentage

11.3%

Occupancy Rate

67.9%

Renter Occupied

The ZIP code 40815, located in Kentucky, offers a unique blend of rural charm and suburban convenience. This area is characterized by its modest housing values and a significant portion of residents who prefer renting over owning. The following analysis provides key insights for landlords and small-portfolio investors considering this market.

The Fair Market Rent (FMR) for ZIP 40815 in fiscal year 2026 is set at $870, which reflects the average rental cost for a two-bedroom apartment in the metro area.
While specific market rent data for ZIP 40815 is currently unavailable, it is important to note that the FMR can serve as a baseline for setting rental prices.
The median home value in this ZIP code stands at $66,723, indicating that property ownership is relatively affordable compared to other regions.
Renters make up 11.3% of the population, suggesting a moderate demand for rental properties within the area.
The median income for residents in ZIP 40815 is $68,155, providing insight into the financial capacity of potential tenants.
The Days on Market (DOM) data is not available, but the combination of the FMR and the median income suggests that rental properties could be quickly occupied.

In summary, ZIP 40815 presents a stable market for rental properties, with a fair market rent of $870 for a two-bedroom apartment and a median income of $68,155, supporting a moderate tenant base. The low median home value indicates that owning property here is economically feasible, while the renter share points to a steady demand for rentals. Although specific market rent and DOM figures are missing, the overall economic profile of the area suggests a promising opportunity for landlords and small-portfolio investors looking for a reliable investment environment.

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.