Location: Perry County, KY | Metro: Perry County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
U.S. Census Bureau data (2024)
The ZIP code 41719 presents an interesting scenario for both renters and landlords alike. Given the median income is not available, it's challenging to assess the financial capability of households to cover the market rate rent, which is also unspecified. However, we can draw insights based on the voucher payment standard and other available data.
The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $960. This figure serves as a benchmark for housing affordability within the ZIP. With nearly half of the population, 49.7%, being renters, the demand for affordable housing is significant. The total population of 817 indicates a relatively small community, where competition among landlords could be fierce due to limited rental stock.
The affordability gap, defined by the difference between the market rate rent and the FMR of $960, is critical for understanding the financial strain on renters. If the market rate exceeds $960 significantly, many households might struggle to find suitable accommodation without assistance. This gap highlights the importance of Section 8 vouchers in providing access to housing for those who cannot afford market rates.
For landlords considering their strategy regarding voucher versus cash-pay tenants, the takeaway is clear. Given the high percentage of renters and the potential affordability issues, accepting Section 8 vouchers can be a viable option to fill vacancies and ensure steady rental income. While the voucher payment is fixed at $960, the security and reliability it offers can outweigh the risks associated with finding cash-paying tenants willing to pay market rates in a competitive environment.
In conclusion, ZIP 41719's rental landscape is characterized by a notable reliance on affordable housing options. Landlords should weigh the benefits of participating in the Section 8 program against the uncertainties of the local market rate to make informed decisions that best suit their investment goals.
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.