Location: Lewis County, KY | Metro: Lewis County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
U.S. Census Bureau data (2024)
The ZIP code 41135, located within Lewis County, KY, presents an interesting scenario when compared to typical ZIP codes in the same county. The Fair Market Rent (FMR) for ZIP 41135 is set at $960 for fiscal year 2026, which is a key figure for understanding rental affordability in this area.
While specific market rent and home value data for ZIP 41135 are currently unavailable, we can make some inferences based on the available figures. The renter share in ZIP 41135 is notably high at 22.5%. This percentage indicates a significant portion of residents are renters, suggesting potential demand for rental properties.
In the context of Lewis County, KY, ZIP codes with similar characteristics often represent what could be termed a 'value pocket.' A value pocket is defined by a combination of factors including lower-than-average home values and higher-than-average renter shares, which often correlate with areas attractive to Section 8 housing voucher holders. However, without definitive market rent and home value data for ZIP 41135, we cannot conclusively label it as such. The high renter share combined with the specific FMR of $960 suggests that there might be a concentration of affordable rental units in this area, making it potentially appealing to Section 8 tenants.
The FMR of $960 provides a benchmark for rental prices that are considered reasonable for low-income families, which is crucial for landlords considering participation in the Section 8 program. If the actual market rents in ZIP 41135 are close to or below this figure, it would further support the notion that this ZIP code is indeed a value pocket within its metro area.
To determine if ZIP 41135 is a value pocket, a mid-tier neighborhood, or a premium sub-market, more comprehensive data on market rents and home values would be necessary. Nevertheless, the existing data point towards a strong presence of renters who might benefit from the Section 8 program, indicating potential opportunities for landlords willing to participate in this initiative.
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.