Location: Leslie County, KY | Metro: Leslie County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,180 |
| 4 Bedrooms | $1,270 |
| 5 Bedrooms | $1,473 |
| 6 Bedrooms | $1,650 |
| 7 Bedrooms | $1,782 |
| 8 Bedrooms | $1,871 |
U.S. Census Bureau data (2024)
The ZIP code 40827, located within Leslie County, KY, exhibits characteristics that can be analyzed against the broader metro's metrics to determine its market positioning. The Fair Market Rent (FMR) for ZIP 40827 stands at $870 for fiscal year 2026, which is a key figure used by HUD to set the payment standards for the Section 8 Housing Choice Voucher program. This FMR is indicative of the rental market's affordability for subsidized housing.
Despite the lack of specific market rent data for ZIP 40827, we can infer its relative position based on the available figures. The median home value in ZIP 40827 is $97,444, which is notably lower than what might be expected in a typical metropolitan area. This suggests that the real estate market in this ZIP code is likely more affordable compared to the average in the Leslie County, KY metro, making it potentially attractive for both landlords and small-portfolio investors seeking value pockets.
The renter share in ZIP 40827 is 26.3%, a figure that is relatively consistent with the county's overall trends but worth noting for its implications. A higher renter share combined with lower-than-average home values often indicates a strong demand for affordable rental properties, which is beneficial for landlords participating in the Section 8 program. This dynamic creates an environment where properties with FMRs like those seen in ZIP 40827 can attract tenants effectively.
In summary, ZIP 40827 appears to be a value pocket within the Leslie County, KY metro, given its lower home values and affordable FMRs. Its renter share, while not exceptionally high, aligns with the potential for it to serve as a sweet spot for Section 8 housing due to the combination of affordability and demand for rentals. Landlords and investors should consider these factors when evaluating investment opportunities in this ZIP code.
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.