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 41855 encompasses a small, rural neighborhood with a total population of 711 residents. Only 1.9% of these residents are renters, indicating a predominantly owner-occupied area. The median household income stands at $59,132, which is relatively modest but sufficient for basic living expenses. The median home value in this ZIP code is $85,184, reflecting an affordable housing market.
From a rental perspective, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $870. However, there is no available data on the current market rent for ZIP 41855, which suggests limited rental activity or a lack of recent updates on rental trends in the area.
Given the low percentage of renters and the absence of detailed market rent information, ZIP 41855 would likely be more suitable for a hands-off Section 8 voucher operator rather than a hands-on value-add buyer. The modest median income and affordable home values indicate that the area is primarily composed of homeowners who may be less inclined to rent, making it challenging for investors seeking to actively manage properties and improve their value through renovations or other strategies. Instead, a hands-off approach focused on providing stable, subsidized housing for eligible tenants would align better with the existing demographic and 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.