Location: Martin County, KY | Metro: Martin County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
U.S. Census Bureau data (2024)
The ZIP code 41214 presents an interesting mix of yield and stability factors that are crucial for real estate investment decisions. To begin, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $920, which provides a baseline for rental income expectations. However, the lack of specific market rent data for ZIP 41214 means that we must rely on the FMR to gauge potential yields. The median home value of $123,644 suggests a relatively affordable entry point into the market for investors looking to acquire properties.
In terms of stability, the ZIP code has a significant 25.7% of residents who are renters, indicating a steady demand for rental properties. While the days-on-market (DOM) figure is not available, the average household income of $32,039 gives insight into the economic conditions of the area. This income level is below the national average, which could affect the ability of tenants to consistently pay rent. However, it also implies that rental rates are likely to be lower, making it easier for tenants to afford housing and potentially leading to higher occupancy rates.
To classify the ZIP code, we can compare the FMR of $920 to the median home value of $123,644. The ratio indicates that the rental income relative to property value is reasonable but not exceptionally high, suggesting that while yields are positive, they are not outstanding compared to other markets. The high percentage of renters (25.7%) supports the idea of a steady cash flow, but the lower average income ($32,039) introduces some risk regarding tenant reliability and long-term financial stability.
Given these factors, ZIP 41214 would best be described as a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The combination of a reasonable FMR and median home value, alongside a substantial portion of renters, points towards a stable environment where the primary focus should be on maintaining consistent cash flow through rental income. Investors should be cautious about the lower average income, which could impact the market's overall stability and the ability of tenants to sustain rent payments over time.
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.