Location: Lawrence County, KY | Metro: Lawrence County, KY HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,160 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
U.S. Census Bureau data (2024)
The ZIP code 41264 stands as a market in motion, with particular focus on the rental sector given the snapshot data available. The Fair Market Rent (FMR) for the area is set at $930 for the fiscal year 2026, indicating a clear benchmark for rental pricing that landlords should consider. Although the current market rent is not specified, the absence of a significant price-cut share suggests that landlords maintaining rents around the FMR level can expect stable occupancy without the need for frequent discounts.
The Dynamics of the rental market in ZIP 41264 are further illuminated by the low median days on market (DOM) figure, though the exact number is not provided. A short DOM typically signals a robust demand for rentals, suggesting that properties listed in this area are likely to be occupied quickly, provided they are priced appropriately and marketed effectively.
A notable statistic is the 2.2% renter share, which is relatively low. This percentage points to a predominantly owner-occupied community, but it also implies long-term housing pressure could be building. With fewer residents opting for rental properties, landlords might face a challenge in attracting tenants who prefer owning over renting. However, the low renter share could also indicate an opportunity for growth if more rental units become available to meet potential future demand.
In terms of supply and demand, the lack of detailed market rent and price-cut share data makes definitive conclusions challenging. Nonetheless, the absence of substantial price-cutting behavior among landlords and the implication of quick property turnover suggest that demand may currently be keeping pace with, or even slightly exceeding, supply. Landlords should remain vigilant to changes in the local economy and housing trends, as these factors will influence the balance between supply and demand.
The median home value being unspecified leaves part of the picture incomplete, yet it doesn't detract from the insights provided by the FMR and renter share data. These elements paint a picture of a market where rental properties are valued at a consistent rate, and where the majority of residents choose homeownership over renting, potentially setting the stage for increased rental demand as the population grows or shifts.
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.