Section 8 Fair Market Rent (FMR) for ZIP 40979 - 2027

FY 2027 Fair Market Rent Rates

ZIP code 40979, located within Leslie County, KY, exhibits characteristics that position it as a potential value pocket within its metro area. The Fair Market Rent (FMR) for the region is set at $870 for fiscal year 2026, which is a key figure for understanding the rental market dynamics in the context of Section 8 housing.

The lack of available data on market rent, home values, and renter share percentages for ZIP 40979 makes direct comparisons challenging. However, the established FMR can be used as a benchmark. Typically, if the actual market rent is lower than the FMR, it indicates a favorable environment for landlords participating in the Section 8 program, as they can receive higher subsidies relative to the local rental rates.

In Leslie County, KY, ZIP codes with similar or slightly lower FMRs often have lower market rents, suggesting that 40979 might also follow this trend. This would mean landlords could benefit from the difference between the FMR and the actual market rent, making it a potentially attractive location for Section 8 properties.

The absence of data on home values and renter share percentages prevents a comprehensive analysis of the ZIP's overall economic status. However, in areas where there is a high renter share percentage with below-average home values, such ZIPs tend to be more appealing for Section 8 participants due to the affordability of both renting and owning homes. Since we do not have specific data for ZIP 40979, we cannot confirm this exact scenario, but it is worth considering based on the FMR alone.

To make a definitive assessment of whether ZIP 40979 is a value pocket, a mid-tier neighborhood, or a premium sub-market within its metro, additional data on market rents and home values would be necessary. Until then, the focus should remain on the FMR and how it compares to the actual rental prices in the area.

If you are a landlord or a small-portfolio investor looking to enter the Section 8 market in Leslie County, KY, ZIP 40979 presents an opportunity worth exploring, especially given the potential for favorable subsidies compared to local rental rates. However, further investigation into the local rental market and property values will provide a clearer picture of the ZIP's true economic standing.

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.