Location: Leslie County, KY | Metro: Leslie County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
U.S. Census Bureau data (2024)
The rental landscape in ZIP code 41766 presents a unique set of challenges and opportunities for landlords and small-portfolio investors. With a median income of $20,522, households in this area face significant constraints when it comes to affording housing at market rates. Unfortunately, the market rate for rentals is listed as N/A, which makes direct comparison difficult. However, we can analyze the situation using the voucher payment standard of $1,010 per month, as established for the fiscal year 2026.
The voucher payment standard serves as a benchmark for affordability. Given the low median income, it's evident that the majority of residents would struggle to pay more than the voucher amount. This suggests that the affordability gap between what residents can pay and what might be considered a fair market rate is substantial. For context, even if the market rate were only slightly above the voucher amount, say $1,200 per month, it would represent a significant portion of the median income—nearly 60% annually. This makes it clear that most residents rely heavily on subsidies to secure housing.
ZIP 41766 has a very low percentage of renters, standing at 0.0%, indicating that homeownership is the predominant form of residence in this area. The total population of 555 means there are few potential tenants, which could translate into fierce competition among landlords. The scarcity of renters implies that those who do rent are likely to be highly price-sensitive, further emphasizing the importance of understanding local subsidy programs and their payment standards.
Takeaway: Landlords considering ZIP 41766 should focus on accommodating tenants with vouchers. Given the low median income and the scarcity of renters, relying solely on cash-paying tenants may limit the pool of potential residents. By accepting vouchers, landlords can tap into a more stable and reliable source of rental income, aligning with the financial realities of the area and ensuring occupancy rates remain high. This strategy is crucial for maintaining profitability in an environment where traditional market-rate rents are unaffordable for most residents.
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.