Location: Floyd County, KY | Metro: Floyd County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,640 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
U.S. Census Bureau data (2024)
60.7% of residents in ZIP code 41663 are renters, indicating a strong demand for rental properties. In this area, the Fair Market Rent (FMR) for metro areas in fiscal year 2026 is set at $1,070, which serves as a benchmark for rental pricing. Despite the lack of specific market rent data, the high renter share suggests that landlords can confidently set their rents close to or slightly above the FMR without fear of vacancies. The median income in the area stands at $14,036, which is below the national average and highlights the importance of understanding the local economy when setting rental prices. This lower median income means that many tenants will be looking for affordable housing options, making government programs like Section 8 particularly attractive for both tenants and landlords.
While there's no data available on days on market (DOM) or the percentage of price-cut shares, the combination of a high renter share and the established FMR provides a solid foundation for investment decisions. Landlords should focus on maintaining properties that meet the quality standards required by the Section 8 program while ensuring they are priced competitively within the $1,070 FMR range. Additionally, understanding the local income levels and working with tenants who qualify for Section 8 can help stabilize cash flows and reduce the risk of vacancy.
The verdict for Section 8 participation in ZIP code 41663 is positive, given the significant renter population and the need for affordable housing options. Landlords can expect steady occupancy rates and a reliable source of income through the Section 8 program, aligning well with the economic realities of the area.
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.