Location: Letcher County, KY | Metro: Letcher 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)
The ZIP code 41848, located in Letcher County, KY, is characterized by a significant portion of renters, with 42.9% of the population renting their homes. This indicates that it is a renter-heavy area with strong potential for Section 8 voucher demand. However, the median household income for this ZIP code is not available, making direct comparisons to income levels challenging.
The typical market rent in ZIP 41848 for different unit sizes is as follows: studio units at $620 per month, one-bedroom units at $759, and two-bedroom units at $870. These figures closely align with the Fair Market Rent (FMR) set by HUD for the same period, which is also $870 for a two-bedroom unit (FY 2026, metro).
Given the lack of median household income data, we can infer that the typical rent for a two-bedroom unit ($870) matches the HUD FMR exactly. This suggests that the rental market is stable and likely reflects the economic conditions of the area accurately.
A landlord in ZIP 41848 should expect tenants who rely heavily on Section 8 vouchers due to the high percentage of renters and the alignment between market rents and HUD FMRs. These tenants will be looking for affordable housing options that fit within their budget constraints, typically set by the government's guidelines.
In summary, ZIP 41848 is a renter-heavy area with strong voucher demand, making it suitable for landlords willing to participate in the Section 8 program. The typical rent for a two-bedroom unit matches the HUD FMR, indicating a balanced rental market reflective of local economic conditions.
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.