Location: Harlan County, KY | Metro: Harlan County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 40818 is set at $1,000 for the metro area fiscal year 2026. This figure represents the payment standard for Section 8 housing vouchers in your region, meaning that if you participate in the program, the Housing Authority will pay up to $1,000 per month for a rental unit. It's important to note that this is not the amount you'll charge tenants as rent; it's the maximum subsidy they can receive.
To understand demand, consider that the average renter in your area might spend around 12.5% of their income on rent. However, since the local median income data is not available, we cannot calculate the exact percentage of income spent on housing. Despite this, you can still gauge interest by checking the number of voucher holders in your area. The higher the number, the greater the potential demand for your rental property.
The acquisition cost for properties in ZIP 40818 is also not specified here, but typically, the cost of buying or building a property should be weighed against the expected rental income. Since the FMR does not directly indicate the median home value, you would need to research typical property values in your area to determine if the investment aligns with your financial goals.
Before deciding to enroll your property in the Section 8 program, verify that your rental meets all the eligibility criteria set by the Housing Authority. This includes ensuring your property complies with health and safety standards, and that the rent you charge is reasonable compared to similar units in the area. The Housing Authority will inspect your property and review the proposed rent to ensure it meets these requirements.
In summary, the $1,000 FMR indicates the maximum subsidy for Section 8 vouchers in ZIP 40818. While specific local renter share and acquisition costs are not provided, understanding the demand and compliance with local regulations will help you make an informed decision about participating in the program.
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.