Location: Harlan County, KY | Metro: Harlan County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,190 |
| 5 Bedrooms | $1,380 |
| 6 Bedrooms | $1,546 |
| 7 Bedrooms | $1,670 |
| 8 Bedrooms | $1,754 |
U.S. Census Bureau data (2024)
The ZIP code 40829 stands as a market in motion, reflecting the broader dynamics of rental housing in the region. With a Fair Market Rent (FMR) of $870 for the fiscal year 2026, this figure represents the benchmark set by HUD for determining eligibility for assistance programs such as Section 8. The absence of current market rent data suggests a lack of recent activity or reporting, which could indicate a stable market where significant fluctuations are uncommon.
The undefined percentage of price-cut share and days on market (DOM) imply that there isn't a surplus of properties needing to be discounted or sold quickly, pointing towards a balanced or slightly demand-driven market. This inference aligns with the limited information available on the median home value, which remains unspecified, suggesting that home values might not be the primary focus for investors interested in the rental market dynamics of this area.
A noteworthy statistic is the 32.5% share of renters in the ZIP code. This percentage indicates a substantial portion of the population opts for renting rather than owning homes, which can exert long-term pressure on the rental market. High renter shares often correlate with steady demand, as these individuals will continue to seek rental properties regardless of economic cycles. For landlords and small-portfolio investors, this suggests a resilient tenant base that can support consistent occupancy rates and rental income.
In summary, while specific trends over time cannot be determined from the snapshot provided, the current data points toward a rental market where demand likely meets or slightly exceeds supply. The significant renter share underscores the importance of rental properties in this area, ensuring a stable and predictable environment for investment. Landlords should focus on maintaining competitive rents around the FMR level to attract and retain tenants, capitalizing on the inherent demand stability of the ZIP code 40829.
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.