Location: Bell County, KY | Metro: Bell County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $630 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,130 |
| 4 Bedrooms | $1,350 |
| 5 Bedrooms | $1,566 |
| 6 Bedrooms | $1,754 |
| 7 Bedrooms | $1,894 |
| 8 Bedrooms | $1,989 |
U.S. Census Bureau data (2024)
40.1% of residents in ZIP 40977 (Pineville, KY) are renters, indicating a significant demand for rental properties in the area. The market rent stands at $538 according to Census ACS data, which is notably lower than the Fair Market Rent (FMR) of $870 set for the metro area in fiscal year 2026. This gap suggests that there is potential for rental rate increases, aligning closer with the FMR. With a median home value of $90,011, Pineville offers an entry point for investors looking to acquire properties at relatively affordable prices. However, the median income of $37,917 may limit the ability of local residents to afford higher rents, making subsidized housing programs such as Section 8 particularly attractive. Despite the lack of specific data on days on market (DOM) and the percentage of price-cut shares, the combination of a high renter share and low median income points to a market where tenants might struggle to find affordable options outside of government assistance. Therefore, landlords and small-portfolio investors should consider the stability and predictability that Section 8 can offer, given the financial constraints of many residents.
The verdict for Section 8 in Pineville, KY (ZIP 40977), is positive due to the substantial difference between market rent and FMR, coupled with the high renter share and lower median income, which make subsidized housing a viable option for many tenants.
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.