Location: Lawrence County, KY | Metro: Carter County, KY HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,260 |
| 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)
850 - The Fair Market Rent (FMR) for ZIP code 41181 in fiscal year 2024 is set at $850. This figure represents the maximum amount landlords can charge for a Section 8 rental unit in this area.
0.0 - Interestingly, the data shows that there is a 0.0% share of renters in ZIP 41181, indicating that homeownership is predominant over renting in this community. Landlords should consider this trend when evaluating potential demand for rental properties.
850 - Given the FMR of $850, landlords must ensure their rental units meet the quality standards required for Section 8 eligibility. Failure to comply could result in disqualification from the program.
850 - For small-portfolio investors looking to participate in the Section 8 program, the $850 limit in ZIP 41181 provides a clear guideline for setting monthly rents. This ensures compliance with HUD regulations and maximizes income potential.
850 - While the FMR is a critical benchmark for rental pricing, it's important to note that other factors such as maintenance costs, property taxes, and insurance will also impact profitability. Investors should conduct a thorough cost analysis before setting their rents at the $850 limit.
850 - In ZIP 41181, where the FMR is $850, landlords need to be aware of the competition from both private rentals and other subsidized housing options. Understanding the local rental market dynamics is essential for success.
850 - The lack of data on market rent, median home value, median income, days on market (DOM), and the percentage of price-cut shares suggests a limited rental activity in ZIP 41181. However, the presence of the FMR indicates that there is still demand for affordable housing under the Section 8 program.
850 - Considering the homeowner-dominated landscape of ZIP 41181, the $850 FMR offers a niche opportunity for landlords who can cater to low-income tenants seeking government assistance. It's a segment worth exploring for those willing to adapt their investment strategies.
850 - In conclusion, for ZIP 41181, the Section 8 program presents a clear and defined opportunity with a FMR of $850. Despite the challenges posed by a low renter share, it remains a viable option for landlords and small-portfolio investors looking to serve the local affordable housing needs.
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.