Location: Floyd County, KY | Metro: Floyd County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $660 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,250 |
| 5 Bedrooms | $1,450 |
| 6 Bedrooms | $1,624 |
| 7 Bedrooms | $1,754 |
| 8 Bedrooms | $1,842 |
U.S. Census Bureau data (2024)
The ZIP code 41612 presents an interesting scenario for both renters and landlords. The median income figure is currently unavailable, which makes it challenging to assess the financial capability of the average household to cover the market rate rent, also listed as N/A. However, we can still draw some conclusions based on the available data.
The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $900. This figure serves as a benchmark for housing affordability and is often used in determining the payment standards for housing vouchers. Given the N/A status for both the median income and market rate rent, it's clear that there is limited data to provide a comprehensive analysis of the affordability gap in ZIP 41612.
With a reported 0.0% of the 71 residents being renters, the competition among landlords is virtually non-existent. This low rental rate suggests that either homeownership is highly prevalent, or the data might be incomplete or skewed due to the small population size. In any case, the scarcity of renters indicates a smaller pool of potential tenants, which could affect the demand for rental properties.
For landlords considering their strategy between accepting housing vouchers versus relying on cash-paying tenants, the affordability gap becomes a critical factor. Since the FMR is set at $900, this implies that voucher holders can secure housing at this price point. If the market rate rent were higher than $900, accepting vouchers would become a necessity for attracting tenants in ZIP 41612. Conversely, if the market rate is lower or equal to $900, landlords might find more success with cash-paying tenants who are willing to pay the going rate.
The takeaway for landlords is that understanding the local rental dynamics is crucial. Given the limited data, landlords should consider diversifying their tenant base by being open to both voucher and cash-paying options. This flexibility will be key in navigating the unique challenges and opportunities presented by ZIP 41612.
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.