Location: Rowan County, KY | Metro: Elliott 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 | $650 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $910 | $131,182 | 0.69% | D |
| 3BR | $1,260 | $169,707 | 0.74% | D |
| 4BR | $1,500 | $210,642 | 0.71% | D |
U.S. Census Bureau data (2024)
With a Fair Market Rent (FMR) of $870 set for metro areas in ZIP 41472 for fiscal year 2026, landlords can expect to align their rental prices with this benchmark to attract Section 8 tenants. The actual market rent, as reported by the Census ACS, stands at $654, indicating a potential opportunity to increase rents slightly while remaining competitive. Given the median home value of $135,422, property owners might consider the relative affordability of homes in West Liberty, KY, compared to other regions.
The 25.7% renter share suggests that nearly a quarter of the population relies on rental housing, creating a stable demand for apartments and houses. Landlords should note the median income of $47,412, which influences the ability of residents to pay higher rents or afford homeownership. While the day DOM (days on market) is listed as N/A, the low 0.2% price-cut share indicates that properties are generally selling without significant reductions, suggesting strong local real estate market conditions.
Investors looking to enter the West Liberty market should be aware that the gap between the FMR and the actual market rent presents an opportunity to charge closer to the FMR without alienating potential tenants. The relatively low median income implies that affordable housing remains a priority, making properties priced around the market rent attractive to a broad range of renters.
Section 8 Verdict: West Liberty, KY is a viable market for Section 8 investment, with favorable conditions and a clear demand for affordable housing.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.