Location: Owsley County, KY | Metro: Lee County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $670 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,160 |
| 4 Bedrooms | $1,290 |
| 5 Bedrooms | $1,496 |
| 6 Bedrooms | $1,676 |
| 7 Bedrooms | $1,810 |
| 8 Bedrooms | $1,901 |
U.S. Census Bureau data (2024)
The ZIP code 41386 has a population of 72 individuals, with 0.0% identified as renters. This indicates that the area is predominantly homeowner-dominated, suggesting that the demand for rental properties using Section 8 vouchers will be scarce. The lack of reported median household income makes it challenging to directly correlate income levels with market rents; however, the absence of median income data implies limited economic activity or diversity within the ZIP.
Given the data provided, we cannot establish a precise percentage of local income that typical rent consumes. However, considering the area's characteristics, it is reasonable to infer that rental properties are not a primary focus of the community, which further supports the idea that voucher holders might not be numerous.
The Fair Market Rent (FMR) for the area is set at $890 for fiscal year 2026, reflecting the metro area's standards rather than the specific ZIP code's conditions. Since there is no median household income data available, it is difficult to provide an accurate comparison to the FMR. Nonetheless, the low number of renters suggests that landlords in this area should not anticipate a high volume of applications from Section 8 tenants.
In summary, landlords in ZIP 41386 should prepare for a tenant pool that is not heavily reliant on Section 8 vouchers due to the predominance of homeownership over renting. The scarcity of voucher demand means that landlords will likely face a smaller pool of potential tenants who qualify for such assistance, necessitating a focus on other rental markets if they wish to attract a broader range of applicants.
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.