Location: Letcher County, KY | Metro: Letcher County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,170 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
U.S. Census Bureau data (2024)
27.0% of residents in ZIP 41840 are renters, indicating a significant demand for rental properties. The $870 Fair Market Rent (FMR) for the metro area in fiscal year 2026 is notably higher than the $820 reported by the Census Bureau's American Community Survey for market rent. This suggests that landlords could potentially benefit from aligning their rents closer to the FMR to maximize income. The median income in the area stands at $58,428, which is slightly above the average market rent, making it feasible for most tenants to afford housing. However, the median home value is significantly lower at $57,580, possibly due to the high percentage of renters rather than homeowners. Despite these figures, the lack of data on days on market (DOM) and the percentage of price-cut share means there is limited insight into the speed of property turnover and the necessity for price adjustments. In conclusion, landlords in ZIP 41840 can expect a steady rental market with the potential for reasonable returns if they adjust their rents to the FMR. For small-portfolio investors, the current environment presents an opportunity to invest in rental properties, given the strong demand and manageable competition. Verdict: ZIP 41840 is a viable market 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.