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 Fair Market Rent (FMR) for ZIP code 41651 in the metro area for fiscal year 2026 is set at $870. This figure represents the payment standard for Section 8 vouchers, which is what the government will pay towards your rental property. It does not reflect the total rent you can charge; rather, it is the maximum amount the voucher will cover.
To put this into perspective, the median monthly rent reported by the Census American Community Survey (ACS) for ZIP 41651 is $255. This means that the FMR of $870 is significantly higher than the current average rent in the area, potentially offering landlords a better return on investment when compared to market rates.
The renter share in this ZIP code is 90.6%, indicating a high demand for rental properties. This percentage shows that nearly all households in the area are renters, making it an attractive market for those looking to invest in rental properties, especially through the Section 8 program.
Note that the acquisition cost for properties in this area is listed as N/A, meaning there is no specific data available on the typical purchase price of homes. However, given the high renter share and the generous FMR, it suggests that the cost of acquiring a property could be reasonable relative to the income generated from Section 8 tenants.
Before proceeding with a Section 8 rental, it is crucial to verify that your property meets the required housing quality standards known as the Housing Quality Standards (HQS). These standards ensure that the rental unit is safe, decent, and sanitary for occupancy. Failure to meet these standards can result in penalties or disqualification from the program.
In summary, the FMR of $870 for ZIP 41651 presents a lucrative opportunity for landlords and small-portfolio investors, given the low median rent of $255 and the high demand for rentals. Ensure your property complies with HQS to avoid any issues and to maximize your chances of success 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.