Location: Pike County, KY | Metro: Pike County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,840 |
| 5 Bedrooms | $2,134 |
| 6 Bedrooms | $2,390 |
| 7 Bedrooms | $2,581 |
| 8 Bedrooms | $2,710 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 41560 reveals a unique rental market scenario. The median household income stands at $80,833, which is notably high. However, the lack of available market rate rent data (N/A) makes it challenging to assess the overall affordability of housing in this area.
When considering the Section 8 Housing Choice Voucher Program, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,000. This figure represents the maximum amount the program will pay toward a tenant's rent. Given the high median income, it is likely that the actual market rate rents exceed this voucher payment standard. Landlords should be aware that tenants using vouchers may face difficulties covering additional costs beyond the $1,000 subsidy.
The ZIP code has a very low percentage of renters, standing at 0.0%, indicating a predominantly owner-occupied area. With a total population of 368, the competition among landlords for rental properties is minimal. This suggests that landlords in ZIP 41560 may find themselves in a niche market where demand for rental units is limited, but those who do rent could command higher prices if they are willing to accept non-voucher paying tenants.
The takeaway for landlords considering voucher versus cash-pay strategies in ZIP 41560 is clear. While accepting vouchers ensures a steady stream of rental income, the low renter population and high median income indicate that there might be better opportunities to target higher-paying tenants who do not rely on government assistance. Landlords should weigh the benefits of guaranteed payments against the potential for higher rents from cash-paying tenants in this unique market environment.
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.