Location: Butler County, KY | Metro: Butler County, KY HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $700 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,200 |
| 5 Bedrooms | $1,392 |
| 6 Bedrooms | $1,559 |
| 7 Bedrooms | $1,684 |
| 8 Bedrooms | $1,768 |
The ZIP code 42288 in Unknown, KY, lacks comprehensive demographic data, including population size, percentage of renters, and median household income. This scarcity of information makes it challenging to provide a precise profile of the area's rental market dynamics and Section 8 tenant pool.
Despite these limitations, we can still draw some conclusions based on the available data. The Fair Market Rent (FMR) for ZIP 42288 is set at $850 for FY 2024, which represents the maximum amount that a Section 8 voucher holder can pay for rent in this area. Without specific figures on the market rent, it's difficult to calculate exactly how much of the local income goes towards typical rent payments. However, given that FMRs are designed to reflect the 40th percentile of market rents, we can infer that the actual market rent is likely higher than $850.
In areas where Section 8 vouchers are prevalent, the demand for affordable housing often outstrips supply. Landlords in ZIP 42288 should prepare for a scenario where there could be a high number of voucher holders seeking rental properties. These tenants would be looking for units priced at or below the $850 FMR threshold.
The kind of tenant profile a landlord in ZIP 42288 should expect includes individuals and families who rely on government assistance to meet their housing needs. These tenants will have a monthly income that is low enough to qualify for the Section 8 program, typically less than 50% of the area median income (AMI). While the exact AMI for this ZIP code is not provided, landlords can anticipate that their tenants will be from lower-income brackets.
To attract and retain Section 8 tenants, landlords must ensure they comply with HUD regulations and maintain properties to certain standards. The process involves regular inspections and paperwork, but it also provides a stable source of rental income backed by the government.
Data Sources: FMR data from HUD (2027).
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.