Location: Wolfe County, KY | Metro: Breathitt County, KY
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 | $680 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $950 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,330 |
| 5 Bedrooms | $1,543 |
| 6 Bedrooms | $1,728 |
| 7 Bedrooms | $1,866 |
| 8 Bedrooms | $1,959 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,190 | $206,415 | 0.58% | F |
U.S. Census Bureau data (2024)
The ZIP code 41301 is home to a population of 5,953 individuals, with 26.0% of them being renters. This indicates that the area has a moderate tenant presence but leans towards being renter-heavy. The median household income stands at $33,984, which provides insight into the financial capabilities of potential tenants.
A typical market rent of $525 in this ZIP code represents a significant portion of the average household's income. Specifically, it constitutes approximately 1,550% of the monthly median income when divided by 12. This high percentage suggests that tenants in this area might heavily rely on rental assistance programs such as Section 8 vouchers to afford housing.
The Fair Market Rent (FMR) for the metro area, set at $870 for fiscal year 2026, is notably higher than the current market rent in ZIP 41301. This discrepancy highlights the affordability of the current rental market compared to the broader metro area, making it an attractive location for voucher holders. The lower market rent can be seen as a positive factor for landlords who wish to attract tenants with Section 8 vouchers, as the gap between the FMR and the actual rent leaves room for both affordable housing and reasonable returns on investment.
In summary, landlords in ZIP 41301 should anticipate a tenant pool that is likely to include a substantial number of individuals relying on Section 8 vouchers due to the relatively high proportion of rent to income. These tenants will be seeking affordable housing options, and the current market conditions support this need while offering landlords a chance to participate in a stable, government-backed rental program.
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.