Location: Lee County, KY | Metro: Lee County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
The ZIP code 41347 in Lee County, Kentucky, presents a unique challenge for real estate analysts due to the lack of specific demographic data. Without precise figures on the number of residents, percentage of renters, median income, and median home value, it's difficult to paint a comprehensive picture of the area's housing dynamics. However, we can still evaluate the economic viability of Section 8 vouchers in this region.
The Fair Market Rent (FMR) for ZIP 41347 is set at $940 for the metro fiscal year 2026. This figure is critical for landlords and small-portfolio investors considering participation in the Section 8 program. The absence of comparative market rent data means that the FMR serves as a baseline for rental pricing in the area. Landlords should ensure their rental properties meet the quality standards required by the program to receive the full voucher amount.
In terms of voucher economics, the $940 FMR provides a guaranteed income stream for landlords who qualify under the Section 8 program. This stability can be particularly beneficial in areas where market rents fluctuate or are generally lower. However, without specific market rent data, it's challenging to determine if this ZIP code offers an advantageous economic environment for Section 8 participation.
Given the limited data available, the overall signature for ZIP 41347 reads as transitional. The lack of detailed demographic information suggests that there might be ongoing changes in the population or housing market that could impact the demand for subsidized housing. Landlords and investors should remain vigilant and consider conducting additional local research to understand the evolving nature of this ZIP code.
Data Sources: FMR data from HUD (2027).
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.