Location: Whitley County, KY | Metro: Bell County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $680 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $950 |
| 3 Bedrooms | $1,180 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
U.S. Census Bureau data (2024)
The median home value in ZIP 40940, located in Whitley County, KY, is approximately $193,000 according to recent data. This figure provides insight into the local real estate market's overall health and value. In comparison, the HUD Fair Market Rent (FMR) for the metro area, effective in fiscal year 2026, stands at $900 for a two-bedroom unit. Given that the market rent for similar units is estimated at $867, it indicates that voucher tenants will generally cashflow at the FMR rate.
The rent-to-price ratio, derived from these figures, suggests a relatively stable rental market. However, the lack of specific data on the median days on market (DOM) and the percentage of price cuts in the area makes it challenging to assess the exact rent-versus-buy dynamics. Nonetheless, the slight discrepancy between the HUD FMR and the market rent implies a competitive environment where landlords can expect steady occupancy but limited room for significant rent increases.
The strongest investor angle in ZIP 40940 is likely stability. With the HUD FMR closely aligning with the market rent, landlords can anticipate consistent cash flow from Section 8 tenants without the need for premium units. This predictability is particularly appealing for small-portfolio investors seeking reliable returns.
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.