Location: Elliott County, KY | Metro: Elliott County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $680 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,360 |
| 5 Bedrooms | $1,578 |
| 6 Bedrooms | $1,767 |
| 7 Bedrooms | $1,908 |
| 8 Bedrooms | $2,003 |
U.S. Census Bureau data (2024)
The market in ZIP code 41149 presents a dynamic landscape, particularly concerning rental properties. With the Fair Market Rent (FMR) set at $900 for fiscal year 2026, it indicates that this area is closely monitored for its affordability and suitability under Section 8 programs. The fact that the current market rent is not available suggests either a lack of comprehensive data or a market that is less active in terms of rental turnover.
The absence of specific figures for price-cut share and days on market (DOM) points to a potentially stable market where there isn't a significant need for landlords to lower their asking rents or where properties are not remaining unsold for extended periods. This stability can be inferred from the snapshot data, which lacks signs of distress typical in markets where supply consistently outpaces demand.
A median home value that is also not specified leaves some ambiguity regarding the overall property values in 41149. However, the 14.7% renter share highlights a segment of the population that relies on rental housing, indicating a continuous long-term housing pressure. This percentage suggests that a considerable portion of residents are likely to remain renters due to various factors such as affordability, life stage, or preference. For landlords and small-portfolio investors, this implies a steady demand for rental units, supporting the idea that demand may be keeping pace with or slightly exceeding supply.
In summary, while direct indicators of market trajectory are limited, the presence of FMR data and the notable renter share suggest a market where demand for rental properties is consistent. Landlords and investors should focus on maintaining competitive rents and ensuring properties meet the standards for Section 8 eligibility to attract and retain tenants effectively.
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.