Location: Floyd County, KY | Metro: Floyd County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $690 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,220 |
| 5 Bedrooms | $1,415 |
| 6 Bedrooms | $1,585 |
| 7 Bedrooms | $1,712 |
| 8 Bedrooms | $1,798 |
U.S. Census Bureau data (2024)
The potential risks for a first-time Section 8 landlord investing in ZIP code 41669 in Wheelwright, KY, include significant tenant turnover due to the disparity between the market rent of $593 and the Fair Market Rent (FMR) of $870 for fiscal year 2026. This gap suggests that tenants might be attracted to higher rents outside the program, leading to frequent moves.
Vacancy exposure is another concern, as the Days on Market (DOM) data is not available, indicating uncertainty around how quickly properties can be rented out. A longer time to fill vacancies can impact cash flow negatively.
Deferred maintenance is likely to be an issue given the typical home value of $51,593 and a median household income of $36,042. These figures suggest that residents may struggle to afford necessary repairs and improvements, which could result in higher maintenance costs for landlords.
Despite these challenges, the high renter share of 21.9% in the area typically translates into robust demand for rental properties, including those accepting Section 8 vouchers. This strong rental market can mitigate some of the risks associated with tenant turnover and vacancy rates.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.