Location: Metcalfe County, KY | Metro: Green County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $670 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,300 |
| 5 Bedrooms | $1,508 |
| 6 Bedrooms | $1,689 |
| 7 Bedrooms | $1,824 |
| 8 Bedrooms | $1,915 |
U.S. Census Bureau data (2024)
The ZIP code 42214 stands out in its county with a unique data profile. With only 749 residents, it has a relatively low population density. A notable 16.1% of these residents are renters, indicating a modest but present rental market. The median income here is $47,188, which is below the national average, suggesting that many residents could benefit from housing assistance programs. The median home value is significantly higher at $191,366, reflecting a more expensive homeownership market compared to the income levels.
Moving into the specifics of Section 8 economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $900. This is notably higher than the current market rent of $748, as reported by the Census Bureau's American Community Survey. Landlords participating in the Section 8 program in ZIP 42214 can expect to receive a higher rent subsidy per unit than the typical market rate, which could offset some of the administrative burdens associated with the program.
The data signature of ZIP 42214 reads as stable. The slight gap between the FMR and market rent suggests a balanced approach to ensuring affordable housing without overcompensation. This balance, combined with the relatively low population and modest rental market, indicates a steady environment for landlords and small-portfolio investors. The higher FMR compared to the market rent also implies a potential opportunity for landlords to secure tenants who might otherwise struggle to afford housing in 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.