Location: Monroe County, KY | Metro: Monroe County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $670 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,320 |
| 5 Bedrooms | $1,531 |
| 6 Bedrooms | $1,715 |
| 7 Bedrooms | $1,852 |
| 8 Bedrooms | $1,945 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 42151 within the Monroe County, KY metro area reveals several key insights for landlords and small-portfolio investors.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for the area is set at $880 per month for fiscal year 2026. However, the market rent is currently not available, which makes it difficult to directly compare the two figures. Landlords should proceed with caution until more accurate market rent data becomes available.
The second question concerns the affordability of acquiring properties. Unfortunately, the median home value, average days on market (DOM), and the percentage of homes that required price cuts are all listed as N/A. This lack of specific data means that potential investors cannot make an informed decision about the cost and timing of property acquisitions in this area.
The third question looks at tenant demand. The population of ZIP 42151 is 201, with 11.4% of residents being renters. Given such a small population size, the number of potential tenants is limited, making it challenging to sustain a rental business without significant occupancy rates.
Verdict: While the Fair Market Rent provides a benchmark for rental pricing at $880 per month, the absence of critical market data such as current market rents, median home values, and other metrics related to property acquisition makes it hard to assess the overall viability of investing in ZIP 42151. Additionally, the low population and limited renter share suggest that tenant demand is likely insufficient to support a robust rental market. Therefore, potential investors should be cautious and seek more detailed local market information before committing resources to this 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.