Location: Floyd County, KY | Metro: Floyd County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $680 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $950 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,280 |
| 5 Bedrooms | $1,485 |
| 6 Bedrooms | $1,663 |
| 7 Bedrooms | $1,796 |
| 8 Bedrooms | $1,886 |
U.S. Census Bureau data (2024)
The Section 8 market analysis for ZIP code 41607 in Floyd County, Kentucky, reveals critical insights for both landlords and small-portfolio investors. The HUD Fair Market Rent (FMR) for the area, which covers the metro scope for fiscal year 2026, is set at $910. However, due to the lack of current market rent data, it's challenging to provide an exact comparison between the HUD FMR and the actual market rates.
Based on the available HUD FMR, voucher tenants in ZIP 41607 will likely cashflow marginally or require premium units to ensure positive cash flow. This is because the FMR represents the maximum amount that a voucher tenant can pay towards rent, and if the market rents are higher, landlords must either accept lower cash flow or seek out higher-end units where the FMR can still cover the costs effectively.
The median home value in the area is currently not available, which makes deriving the rent-to-price ratio difficult. However, understanding this ratio is crucial for investors looking to compare the cost of renting versus buying in the area. Typically, a lower rent-to-price ratio indicates that buying might be more advantageous, but without specific numbers, we cannot make this determination.
Additionally, the median Days on Market (DOM) and the percentage of homes that required a price reduction before selling are also not provided. These metrics can help investors gauge the local real estate market's health and how quickly properties are turning over, which is particularly relevant when considering the balance between rental and purchase markets.
In conclusion, while there is limited data regarding the current market rent and median home values, the primary focus for Section 8 investors should be on securing properties that align closely with the $910 FMR to ensure viable cash flow. The strongest investor angle in ZIP 41607 appears to be stability, given the reliance on consistent HUD funding and the predictability of government-backed rental support programs.
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.