Location: Lewis County, KY | Metro: Carter County, KY 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 | $900 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,180 | $105,512 | 1.12% | B |
| 3BR | $1,510 | $144,886 | 1.04% | B |
U.S. Census Bureau data (2024)
The classification of ZIP code 41141 (Garrison, KY) hinges on its financial metrics compared to the Federal Market Rent (FMR) and local market conditions. The FMR for FY 2024 is set at $860, which is significantly lower than the market rent of $1,161. This indicates a potential for higher rental yields if properties can be leased out at market rates. However, the median home value stands at $109,938, which is relatively modest. This suggests that while there might be opportunities for flipping properties, the overall market is more suited to long-term investment rather than quick turnover.
On the stability axis, the figures paint a picture of a somewhat cautious environment. With only 16.7% of the population being renters, the demand for rental properties is limited, potentially leading to higher vacancy rates. The median household income is $36,508, which is below average and could impact tenants' ability to consistently pay higher rents. The lack of data on days on market (DOM) makes it difficult to assess how quickly properties can be rented out, but combined with the low rental rate, this points towards a less stable market.
Given these specifics, ZIP 41141 leans towards a steady-cashflow zone. The gap between the FMR and market rent allows for decent cash flow when properties are occupied, but the low percentage of renters and modest income levels suggest a market that requires careful management to maintain occupancy and ensure timely rent payments. Investors should focus on properties that offer good value and can be rented at or slightly above the FMR to avoid overpricing and potential vacancies.
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.