Section 8 Fair Market Rent (FMR) for ZIP 40930 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 40930 is located in Dewitt, KY, a small rural neighborhood with a total population of 88 individuals as of July 1, 2025. In this area, 51.4% of the housing units are occupied by renters, indicating a significant demand for rental properties. The median household income in Dewitt, KY, is $36,408, which is relatively low compared to the national average. The median home value stands at $65,000, reflecting the modest economic conditions of the neighborhood.

In terms of rental economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $870. However, the actual market rent in Dewitt, KY, is lower, aligning closely with the median home value. This suggests that the rental market is competitive and likely driven by the local economy.

Given the data, ZIP code 40930 seems better suited for a hands-off voucher operator rather than a hands-on value-add buyer. The low median income and high percentage of renters suggest that there is a substantial need for affordable housing, which Section 8 vouchers can effectively address. Additionally, the low growth rate and high housing affordability index indicate that the market is stable and unlikely to offer significant opportunities for value appreciation through active management.

Investors interested in this ZIP code should focus on providing quality, affordable rental units that meet the needs of the local population. The potential for passive income generation through Section 8 vouchers is strong, given the demographic makeup and economic conditions of Dewitt, KY.

Data Sources: FMR data from HUD (2027).

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.