Location: Grant County, KY | Metro: Cincinnati, OH-KY-IN HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,080 | $226,367 | 0.48% | F |
| 3BR | $1,300 | $277,039 | 0.47% | F |
| 4BR | $1,600 | $372,099 | 0.43% | F |
U.S. Census Bureau data (2024)
The potential pitfalls for a Section 8 landlord in ZIP 41097, Williamstown, KY, are significant. Tenant turnover is a critical issue, with the market rent set at $782 compared to the Fair Market Rent (FMR) of $990 for FY 2024. This discrepancy suggests that tenants might struggle to afford the full rent, leading to higher turnover rates. Vacancy exposure is another concern, as the Days on Market (DOM) data is currently unavailable, indicating a lack of transparency regarding how long properties typically remain vacant. This uncertainty can lead to financial strain, especially if vacancies persist for extended periods.
The deferred maintenance risk is substantial given the typical home value of $267,423 and a median household income of $77,524. These figures imply that homeowners may not have the financial capacity to maintain their properties adequately, which could translate into higher repair costs and more frequent maintenance requests for landlords. The median income is relatively low compared to the home values, suggesting that residents might prioritize other expenses over property upkeep.
However, these risks must be weighed against the high renter share of 17.3%. High renter density often correlates with a greater demand for housing vouchers, which can provide a stable source of rental income. In Williamstown, the presence of many renters indicates a robust market for Section 8 properties, potentially mitigating some of the financial uncertainties associated with tenant turnover and vacancy exposure.
Verdict: Moderate risk for a first-time Section 8 landlord.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.