Location: Hickman County, KY | Metro: Hickman County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,310 |
| 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 42032 presents several challenges for potential Section 8 landlords. Firstly, tenant turnover can be a significant issue due to the disparity between the market rent and the Fair Market Rent (FMR) set at $920 for FY 2026, which is based on the metro area. This gap might lead to tenants seeking better deals elsewhere, increasing the likelihood of frequent turnover.
Vacancy exposure is another concern, as the average days on market (DOM) is not available. However, in areas where rental properties are heavily reliant on Section 8 vouchers, it's common to experience periods of vacancy while waiting for approved tenants. This can be financially burdensome for landlords who need consistent rental income.
Deferred maintenance is also a risk factor. Although the typical home value in ZIP 42032 is not specified, the median household income stands at $34,706. This figure suggests that residents may have limited funds for maintaining their homes, potentially leading to higher maintenance costs for landlords. The combination of lower incomes and likely higher maintenance needs can strain the financial resources of property owners.
On the other hand, there are mitigating factors that reduce some of these risks. The renter share in ZIP 42032 is 25.6%, indicating a relatively high concentration of renters. High renter density often translates into higher demand for Section 8 vouchers, which can help landlords fill vacancies faster once they have been certified to accept vouchers.
A final consideration is the legal framework surrounding Section 8 housing. Landlords must comply with strict regulations, which can be complex and time-consuming. However, the program provides a stable source of rental income, assuming the landlord can navigate the system effectively.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.