Location: Leslie County, KY | Metro: Clay County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,260 |
| 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 40914 stands out due to its unique characteristics among similar areas. With a population of only 820 residents, it has a relatively low number of renters at 14.2%, indicating that homeownership is more prevalent despite the absence of reported median home values. The median income here is $26,502, which is significantly lower than many other areas, suggesting a community that heavily relies on assistance programs such as Section 8.
In terms of voucher economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $870. This figure represents the maximum amount that landlords can charge for a rental unit under the Section 8 program. However, without specific market rent data for ZIP 40914, it's challenging to compare the FMR directly to local market conditions. Despite this lack of precise market data, landlords should be aware that the lower median income could mean a higher demand for subsidized housing units, potentially leading to a steady stream of tenants who qualify for the Section 8 program.
Given the data available, ZIP 40914 appears to have a stable profile with a consistent demand for rental properties that fall under the Section 8 umbrella. Landlords can expect a reliable tenant pool, though the income levels suggest that there might be limitations on how much they can charge above the FMR without risking vacancy. This ZIP code is not likely transitional; instead, it seems to have established patterns of behavior and economic conditions that are unlikely to shift dramatically in the near future.
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.