Location: Leslie County, KY | Metro: Clay 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)
0.0% of residents in ZIP code 40874 are renters, indicating a predominantly owner-occupied market. This statistic highlights the limited demand for rental properties in the area, which could affect the appeal of Section 8 housing vouchers. The Fair Market Rent (FMR) for the metro area as of fiscal year 2026 is set at $870, providing a benchmark for rental pricing. However, the absence of specific market rent data suggests that actual rents might deviate from this figure, potentially offering opportunities for landlords to adjust their rates based on local conditions. The lack of median home value and median income data points to a scarcity of comprehensive housing and economic indicators, which could be crucial for assessing the overall financial health of the community. With no data available on Days on Market (DOM) or the percentage of listings that have been price-cut, it's challenging to gauge the liquidity and competitiveness of the real estate market. For landlords and small-portfolio investors considering Section 8 participation, these figures underscore the importance of understanding the unique dynamics of ZIP 40874.
0.0% renter share means that nearly all homes in 40874 are owned rather than rented, suggesting that landlords should carefully evaluate the potential for attracting voucher holders. Despite the $870 FMR serving as a guideline, the undefined market rent leaves room for uncertainty about how much can realistically be charged. The non-availability of median income data complicates the assessment of tenant affordability, while the missing DOM and price-cut share percentages obscure insights into property turnover and pricing adjustments. Given these limitations, landlords must rely on other sources to fill in the gaps and make informed decisions.
0.0% renter share combined with the $870 FMR implies that landlords in 40874 must balance the benefits of participating in the Section 8 program against the lower-than-average rental demand. The lack of detailed market data poses challenges but also opportunities for those willing to conduct thorough local research. In conclusion, while the program offers a stable source of income, the low renter share makes it less favorable for landlords in ZIP 40874.
Section 8 Verdict: Not recommended due to the extremely low 0.0% renter share.
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.