Location: Muhlenberg County, KY | Metro: Muhlenberg County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
U.S. Census Bureau data (2024)
ZIP code 42321, located within Muhlenberg County, KY, presents a unique scenario when compared against typical ZIP codes in the county. The Fair Market Rent (FMR) for ZIP 42321 stands at $1,050 for the fiscal year 2026. This figure is crucial for understanding the rental market dynamics in the area.
Notably, the market rent and home value data for ZIP 42321 are currently unavailable. However, the renter share in this ZIP code is 7.5%, which is a key metric for identifying potential value pockets or sweet spots within the rental market. A higher renter share can indicate that there is a significant portion of the population relying on rental housing, which could be an important consideration for landlords and investors focusing on the Section 8 housing market.
To determine whether ZIP 42321 is a value pocket, a mid-tier neighborhood, or a premium sub-market within its metro, it's essential to look at comparative data. Typically, ZIP codes with a high renter share and lower-than-average home values signal a sweet spot for Section 8 properties. However, since the home value data is not available, we cannot definitively conclude the exact position of ZIP 42321 based solely on the FMR and renter share.
The FMR of $1,050 suggests that rental prices in ZIP 42321 are set at a level that reflects the average income levels in the area, making it suitable for Section 8 participants. Given the lack of specific market rent and home value data, the analysis must focus on the available metrics. The 7.5% renter share is relatively low but still significant enough to support a rental market.
In conclusion, while ZIP 42321 shows promise as a location for Section 8 properties due to its established FMR, the absence of market rent and home value data hinders a complete assessment. Nonetheless, the combination of a reasonable FMR and a moderate renter share indicates that this ZIP code is likely a mid-tier neighborhood within its metro, offering opportunities for landlords and small-portfolio investors who are looking to enter a stable rental market.
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.