Location: Perry County, KY | Metro: Breathitt County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,320 |
| 5 Bedrooms | $1,531 |
| 6 Bedrooms | $1,715 |
| 7 Bedrooms | $1,852 |
| 8 Bedrooms | $1,945 |
U.S. Census Bureau data (2024)
The ZIP code 41745 is primarily characterized by a moderate rental presence, with 28.0% of its population being renters. This indicates that while there is a significant portion of the population relying on rental housing, it is not dominated by renters. The median household income stands at $30,667, which suggests that the area is economically challenged.
Given the lack of specific market rent data for ZIP 41745, we can infer the financial burden of rent on local incomes by comparing the median income to the Fair Market Rent (FMR) figure. The FMR for the metro area is set at $960 for FY 2026. Assuming typical rents align closely with FMR, a resident would need to allocate approximately 31% of their annual income towards rent alone. This is a substantial proportion and highlights the necessity for rental assistance programs such as Section 8 vouchers in the area.
The scarcity of market rent data makes it difficult to provide a precise comparison, but the connection between the median income and the FMR indicates that typical rent consumes a considerable share of the average household's earnings. Landlords in ZIP 41745 should anticipate tenants who heavily rely on Section 8 vouchers to cover their rent, given the economic conditions and the alignment of median income with the FMR.
The expected tenant profile in this ZIP code includes individuals and families who are likely to be seeking affordable housing options due to the economic constraints they face. They will most probably require the support of rental assistance programs to afford living in the area. Landlords must be prepared to comply with Section 8 regulations and understand that their tenant base will consist largely of those who cannot afford market-rate rents without government subsidies.
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.