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 analysis of ZIP code 41647 in Floyd County, Kentucky, reveals several key points for landlords and small-portfolio investors.
The rent math is questionable. The Fair Market Rent (FMR) for the area is set at $900 for fiscal year 2026. However, without specific market rent data, it's challenging to determine if this aligns with what tenants can afford. Landlords should proceed with caution and consider local economic factors before setting rents at this level.
Acquisition appears affordable. With a median home value of $70,567, purchasing properties in this ZIP code is within reach for many investors. The lack of detailed data on days on market (DOM) and the percentage of homes needing price cuts suggests a stable housing market, but further investigation into these metrics would provide clearer insights into the ease of acquiring properties.
Tenant demand is present but limited. The ZIP code has a population of 945, with 14.2% of residents being renters. This indicates that while there is a rental market, it is relatively small compared to owner-occupied homes. Investors should be prepared for competition among existing rental properties and ensure their offerings meet the needs of the local tenant base.
Verdict: ZIP code 41647 presents an opportunity for investors looking to enter a stable and potentially undervalued market. The affordability of property acquisition is a significant advantage, although the limited size of the rental market means careful consideration of rent pricing and property management strategies is essential. Given the FMR of $900, landlords must balance this figure against the actual financial capacity of potential tenants to avoid vacancies. Overall, the ZIP code offers a niche investment opportunity for those willing to conduct thorough due diligence and adapt to the local market conditions.
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.