Location: Pike County, KY | Metro: Martin 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 | $760 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,810 |
| 5 Bedrooms | $2,100 |
| 6 Bedrooms | $2,352 |
| 7 Bedrooms | $2,540 |
| 8 Bedrooms | $2,667 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,100 | $81,044 | 1.36% | A |
| 3BR | $1,310 | $107,903 | 1.21% | A |
| 4BR | $1,810 | $151,465 | 1.19% | B |
U.S. Census Bureau data (2024)
ZIP code 41514, located in Belfry, KY within the Pike County metro, presents an interesting profile compared to typical ZIP codes in the area. The Fair Market Rent (FMR) for ZIP 41514 stands at $980 for fiscal year 2026, which is notably higher than the market rent figure of $714. This suggests that federally subsidized rents are above what the local market typically demands, indicating potential for landlords who can qualify for Section 8 subsidies.
The median home value in ZIP 41514 is $89,467, which is relatively low compared to other ZIP codes in the county. This lower home value could be indicative of a less affluent neighborhood, but it also implies that there might be significant cost savings for landlords investing in properties here.
The renter share in ZIP 41514 is 20.3%, slightly above average for the county. High renter shares, especially when coupled with below-average home values, often signify areas where Section 8 vouchers are more prevalent. Landlords in ZIP 41514 could benefit from the higher demand for rental housing and the availability of federal assistance through Section 8.
In summary, ZIP 41514 appears to be a value pocket within the Pike County metro. It offers opportunities for landlords to invest in properties at a lower cost while potentially benefiting from higher FMR rates and a significant portion of renters who may rely on Section 8 assistance. The combination of below-metro home values and a slightly elevated renter share makes it a particularly attractive area for those interested in Section 8 properties.
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.