Location: Pike County, KY | Metro: Pike County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,160 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
U.S. Census Bureau data (2024)
To classify ZIP code 41512 based on yield and stability, we must analyze the given data closely. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $910. This figure represents the average rent that a landlord can expect to receive per unit, assuming the property qualifies under Section 8 guidelines. However, the specific market rent for ZIP 41512 is not provided, which means we rely solely on the FMR for yield assessment.
The median home value in ZIP 41512 is $105,229, which is significantly lower than the national average. This suggests that properties in this area might be more affordable for first-time buyers or those seeking low-cost rental units, aligning with the lower FMR. Given the relatively low home values, there is potential for higher yields if the rental market is robust enough to support the FMR. However, without a direct comparison to market rents, we cannot definitively conclude the yield potential.
Moving to stability, only 12.5% of residents are renters, indicating a primarily owner-occupied community. This low percentage of renters could suggest less demand for rental properties, impacting both yield and stability. The median household income is $37,708, which is below the national average and may limit the ability of residents to afford higher rents. The lack of data on days on market (DOM) makes it difficult to assess how quickly rental properties might turn over, but the low renter percentage implies slower turnover rates.
Based on these figures, ZIP 41512 appears to be a low-stability market with moderate yield potential. The primary driver for this classification is the low percentage of renters and the median income level, which together suggest limited demand for rental housing and potentially weaker financial stability for tenants. The high yield potential is driven by the relatively low home values and the FMR, which could provide a decent return on investment for landlords who can secure tenants willing to pay the FMR. However, the absence of specific market rent data and days on market information leaves some uncertainty about the true nature of the rental market dynamics in this ZIP code.
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.