Location: Pike County, KY | Metro: Pike County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,820 |
| 5 Bedrooms | $2,111 |
| 6 Bedrooms | $2,364 |
| 7 Bedrooms | $2,553 |
| 8 Bedrooms | $2,681 |
U.S. Census Bureau data (2024)
The potential risks for a Section 8 landlord in ZIP code 41528 are significant and should be carefully considered before investing. First, the tenant turnover rate can be unpredictable due to the discrepancy between the market rent and the Fair Market Rent (FMR) of $980 set for fiscal year 2026 in the metro area. This difference may lead to tenants seeking more affordable housing options outside the program, causing higher turnover rates.
Second, there is a notable exposure to vacancy. The days on market (DOM) figure is not available, which suggests that it might take longer than average to find a tenant, leading to extended periods of non-rental income. This is particularly concerning when combined with the typical home value of $67,477 and a median income of $73,419, indicating that landlords may struggle to cover maintenance and operational costs without a steady stream of rental income.
Third, the deferred maintenance exposure is high. Given the relatively low typical home value compared to the median income, landlords must ensure they maintain their properties adequately to meet the Housing Quality Standards (HQS) required by the Section 8 program. Failure to do so can result in reduced payments or termination of the lease agreement, further impacting profitability.
However, these risks must be weighed against the 0.0% renter share in the area. High renter density typically correlates with increased demand for Section 8 vouchers, potentially stabilizing the occupancy rate. Despite this, the lack of renters in ZIP 41528 means that even if the demand for vouchers exists, there may not be enough eligible tenants to fill vacancies consistently.
In conclusion, the investment risk for a first-time Section 8 landlord in ZIP code 41528 is high.
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.