Location: Letcher County, KY | Metro: Knott County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,100 |
| 4 Bedrooms | $1,330 |
| 5 Bedrooms | $1,543 |
| 6 Bedrooms | $1,728 |
| 7 Bedrooms | $1,866 |
| 8 Bedrooms | $1,959 |
U.S. Census Bureau data (2024)
870 is the Fair Market Rent (FMR) for ZIP 41804 in metro FY 2026, setting a benchmark for rental properties in the area. 68,404 is the median home value, indicating the typical cost of homeownership compared to rental prices. 17.5% is the proportion of renters in the market, showing that nearly one in five residents prefer leasing over owning their homes. While the market rent and median income figures are currently unavailable, the existing data still provides valuable insights for investors. The lack of Days on Market (DOM) and price-cut share percentages suggests either a stable housing market or limited recent transaction data. Given the FMR of $870, landlords can set competitive rents without overpricing their units, ensuring they attract tenants while maintaining profitability. The lower median home value of $68,404 compared to the FMR indicates that renting may be more attractive than buying for many residents due to affordability concerns. This makes ZIP 41804 a favorable location for rental investments, particularly those seeking to serve the needs of moderate-income families. With 17.5% of the population as renters, there is a substantial demand for affordable housing options, aligning well with the Section 8 Housing Choice Voucher program's objectives. Landlords who participate in the Section 8 program can benefit from a steady stream of tenants and government-backed rent payments, securing long-term investment stability.
Based on the available data, ZIP 41804 presents a positive outlook for Section 8 investments.
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.