Location: Perry 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 analysis of ZIP 40972 in Perry County, KY, reveals several key points regarding its viability for Section 8 real-estate investment.
First, does the rent math work? The Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $870. However, the market rent data is not available, which makes it difficult to directly compare the two figures. Given the absence of market rent data, we cannot definitively conclude if the rent math works; further investigation into local rental rates is necessary.
Second, is acquisition affordable? Without specific figures on the median home value, the number of days on the market (DOM), and the percentage of homes that have been subject to price cuts, it's challenging to assess affordability. These metrics would provide insight into whether properties can be acquired at a reasonable cost and how quickly they might sell if needed.
Third, is there tenant demand? With a population of 1,255, the ZIP code has a 11.5% renter share. This suggests that while the overall population is modest, there is still a segment of the community seeking rental housing, which could support a Section 8 investment. However, the relatively low percentage of renters indicates that demand may not be robust.
Verdict: Investing in ZIP 40972 presents an opportunity, but requires careful consideration. The FMR of $870 provides a baseline for rental income, though without market rent data, it's impossible to confirm if this figure aligns with local conditions. Acquisition costs are uncertain due to missing data on median home values and market dynamics, but the presence of a small yet steady tenant demand suggests potential for stable occupancy. Landlords should proceed with caution, ensuring thorough research into local rental markets and property values before committing to an investment in this area.
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.