Location: Knott County, KY | Metro: Knott County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,310 |
| 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 ZIP code 41839 encompasses a small community with a total population of 608 residents. Given that 30.9% of the residents are renters, it suggests a modest rental market. The median income for the area is currently unavailable, but the median home value stands at $64,471, indicating relatively affordable housing options.
Moving into the specifics of rental economics, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $1,040. In contrast, the actual market rent as reported by the Census ACS is $918. This discrepancy between the FMR and the market rent can be a key consideration for investors looking to understand the potential rental income and the demand for subsidized housing through programs such as Section 8.
For a hands-off voucher operator, ZIP 41839 could be an attractive option due to the affordability of homes and the relatively low market rent compared to the FMR. This environment supports a stable and predictable income stream without the need for significant property management efforts. On the other hand, for a hands-on value-add buyer, there might be limited opportunities to increase rents beyond the current market levels. However, the potential to leverage the gap between FMR and market rent could provide a niche for improving properties and capturing higher rents under Section 8 contracts.
In summary, ZIP 41839 offers a straightforward investment landscape for those seeking stable returns through Section 8 participation. For investors willing to take a more active role, the area presents challenges in terms of rent appreciation but also unique opportunities to create value through strategic property enhancements.
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.