Location: Ohio County, KY | Metro: Grayson County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $670 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,250 |
| 5 Bedrooms | $1,450 |
| 6 Bedrooms | $1,624 |
| 7 Bedrooms | $1,754 |
| 8 Bedrooms | $1,842 |
U.S. Census Bureau data (2024)
ZIP code 42349 in Ohio County, KY stands out when compared against typical metrics for its metro area. The Fair Market Rent (FMR) for 42349 is set at $870 for fiscal year 2026, which is notably lower than the market rent of $1,099. This suggests that while the government subsidizes rents up to $870, the actual rental market demands higher rates, indicating a potential gap between subsidized and market rents.
The median home value in ZIP 42349 is $133,828, which is below the average for the county. This low valuation combined with a relatively high renter share of 14.5% could signal an opportunity for landlords and small-portfolio investors interested in properties that attract a higher proportion of renters. Typically, such a combination of factors can indicate a value pocket within the metro, where investment opportunities might be more affordable yet still benefit from a steady demand for rental housing.
To further contextualize 42349's position, it's important to note that the FMR is designed to reflect the rental market conditions and ensure that assisted households can find suitable housing. With an FMR significantly lower than the market rent, landlords in this ZIP code may find themselves in a situation where they can attract both subsidized and non-subsidized tenants, potentially increasing their occupancy rates and diversifying their tenant base.
The analysis of ZIP 42349 reveals a mix of characteristics that could make it attractive for certain types of investments. It appears to be a value pocket within the Ohio County, KY metro, offering a balance of affordability for homeowners and a decent rental market. However, the specific dynamics will depend on the broader economic context of the area, including employment trends, population growth, and the availability of rental units.
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.