Location: Clay County, KY | Metro: Clay County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $660 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,280 |
| 5 Bedrooms | $1,485 |
| 6 Bedrooms | $1,663 |
| 7 Bedrooms | $1,796 |
| 8 Bedrooms | $1,886 |
U.S. Census Bureau data (2024)
The Section 8 market analysis for ZIP code 40941 in the Clay County, KY metro area reveals key insights for landlords and small-portfolio investors. The HUD Fair Market Rent (FMR) for the metro scope in fiscal year 2026 is set at $890. In comparison, the Census ACS reports a market rent of $833 for the same area.
Voucher tenants in ZIP 40941 will cashflow at the FMR, providing a positive net operating income for landlords. This is because the FMR exceeds the market rent by $57, indicating that voucher holders can cover the rent with minimal out-of-pocket expenses. However, it's important to note that this cashflow advantage is marginal, and landlords should be cautious about relying solely on this difference for profitability.
The median home value for ZIP 40941 is not available, which means we cannot calculate a precise rent-to-price ratio. Nonetheless, the absence of this figure does not necessarily imply a weak rental market; rather, it suggests that homeownership data may not be as relevant or comprehensive in this area compared to rental dynamics.
The days on market (DOM) and price-cut share percentages are also not available, making it difficult to assess the typical time frame for property sales and the frequency of price reductions in the local housing market. Despite these missing metrics, the stability of the rental market remains a strong point for investors, given the consistent demand for affordable housing.
The strongest angle for Section 8 investors in ZIP 40941 is cashflow. With the FMR slightly above the market rent, landlords can expect steady income from voucher tenants without the need for premium units. This makes the area particularly attractive for those seeking reliable, low-risk investment opportunities in the affordable housing sector.
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.