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 Fair Market Rent (FMR) for ZIP code 41535 in the fiscal year 2026 is set at $980. This figure represents the payment standard for Section 8 housing vouchers in your area, which is the amount the government will pay towards rent for eligible families. It's important to note that this is not the amount you should charge as rent; it's the maximum amount the government will contribute.
While there isn't specific local rent data available for ZIP 41535, we can still make some informed decisions based on the FMR. The 31.1% renter share indicates that over three-tenths of households in your area are renters, suggesting a reasonable demand for rental properties. However, the actual rent you can charge will depend on the market conditions and the specific property.
The average home value in the area is $97,656, which gives an idea of the acquisition cost for a property. This figure is useful when evaluating the potential return on investment for a Section 8 rental property. It's crucial to ensure that the rental income, combined with any other sources of income, covers the mortgage, maintenance, and other costs associated with owning a rental property.
To secure a steady stream of income through the Section 8 program, it's essential to verify that your property meets the Housing Quality Standards (HQS) required by the government. These standards ensure that the rental unit is safe, decent, and sanitary. A thorough inspection by the appropriate agency is necessary to confirm compliance.
In summary, the FMR of $980 is the government's contribution limit, not the rent you should set. With a 31.1% renter share, there is demand for rentals, and the average home value provides insight into the acquisition cost. Before proceeding, ensure your property meets the HQS to avoid complications once enrolled in the Section 8 program.
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.