Location: Knott County, KY | Metro: Knott County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,170 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
U.S. Census Bureau data (2024)
The ZIP code 41847 stands as a market in motion, with particular dynamics that can be inferred from the available snapshot of data. The Fair Market Rent (FMR) for the area is set at $870 for fiscal year 2026, indicating a benchmark that landlords should aim to meet or slightly exceed to remain competitive within the rental market.
While specific figures for market rent, price-cut share, days on market (DOM), and median home value are currently unavailable, the high renter share of 44.4% suggests a significant portion of the population prefers renting over owning. This trend often points towards a market where demand for rentals might outpace supply, especially if homeownership is less accessible due to financial constraints or other barriers.
The reliance on rental properties in ZIP 41847 reflects ongoing housing pressures that favor temporary living arrangements. For landlords and small-portfolio investors, this means maintaining a balance between rent pricing and property quality to attract and retain tenants. It also implies that the rental market could be resilient against downturns, as renters continue to seek affordable housing options.
In such a market, landlords must stay informed about local economic conditions, employment rates, and any changes in housing policies that could affect the rental landscape. The trajectory of the market will depend on these factors, alongside broader trends in housing affordability and availability.
Investors should focus on properties that offer value for the set FMR, ensuring they provide amenities and maintenance that cater to the needs of a diverse tenant base. Given the snapshot data, it's clear that the rental sector plays a pivotal role in the housing dynamics of ZIP 41847, making it a critical consideration for those looking to invest in the area.
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.