Location: Harlan County, KY | Metro: Harlan County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,520 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
U.S. Census Bureau data (2024)
The ZIP code 40849 is situated in a neighborhood that is predominantly owner-occupied, with a population of approximately 34 residents and an extremely low rental rate of 0.0%. The median income and median home value data are not available, which suggests a niche market or possibly a very small, specialized community.
Moving into the realm of rental economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,090. This figure stands in contrast to the lack of available market rent data, indicating a potential gap between government estimates and actual rental market dynamics. Given the absence of local market rent data, it's challenging to provide a direct comparison, but the FMR can serve as a benchmark for landlords participating in the Section 8 program.
Considering these factors, ZIP 40849 may not be ideal for hands-off voucher operators due to the limited number of renters and the unavailability of key economic indicators such as median income and home values. However, for hands-on value-add buyers who are willing to engage deeply with the local market and understand the unique characteristics of this small community, there could be opportunities to create a stable and profitable rental portfolio. These investors would need to focus on building strong relationships with tenants and navigating the nuances of a Section 8 program in a setting where traditional metrics are not readily available.
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.