Location: Leslie County, KY | Metro: Harlan 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 Section 8 market in ZIP code 40840, located in Leslie County, Kentucky, presents a unique opportunity for landlords and small-portfolio investors. According to HUD Fair Market Rent (FMR) data for fiscal year 2026, the maximum rental assistance payment for the area is set at $870 per month. However, the lack of specific market rent data for ZIP 40840 makes it challenging to provide a direct comparison between the HUD FMR and actual market rates.
Given the absence of precise market rent figures, we can infer that the HUD FMR of $870 may either cover the cost of renting modestly priced units or require that landlords seek out premium units to achieve positive cash flow. The exact scenario depends on the individual property's expenses and location within the ZIP code.
Similarly, the median home value data for ZIP 40840 is not available, which means we cannot calculate a definitive rent-to-price ratio. This ratio is crucial for understanding the broader housing market dynamics and how they might influence the decision between renting and buying. Without this information, it's difficult to assess the overall rent-versus-buy climate in the area.
The days on market (DOM) and price-cut share percentages are also not provided, but these metrics would typically help investors gauge the speed and ease with which properties are sold in the area. These factors can indirectly affect the rental market by indicating the level of competition among buyers and the flexibility of sellers in adjusting their asking prices.
In conclusion, the strongest angle for investors in ZIP code 40840 appears to be cash flow, contingent upon securing properties where the HUD FMR of $870 sufficiently covers operational costs and desired profit margins. This focus on cash flow aligns well with the conservative nature of Section 8 investments, emphasizing steady income over speculative gains.
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.