Location: Ohio County, KY | Metro: Ohio County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $690 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,180 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
U.S. Census Bureau data (2024)
The market in ZIP code 42354 presents a dynamic environment for landlords and small-portfolio investors, with specific insights emerging from the snapshot of current conditions. The Fair Market Rent (FMR) for the area is set at $870, reflecting the anticipated average rental rate for the fiscal year 2026. In contrast, the actual market rent, based on recent Census ACS data, stands at $625. This discrepancy suggests that the rental market is currently below the projected fair market value, indicating potential upward movement as the market adjusts to meet future expectations.
The 12.6% renter share within ZIP 42354 offers a critical perspective on long-term housing pressures. A lower percentage of renters typically signals a stable homeownership base, but it also means that there's a smaller segment of the population actively seeking rental properties. This can imply that rental demand is relatively steady, without significant spikes that might drive up rents rapidly. However, a persistent need for rental housing, even at a moderate level, can create sustained pressure on landlords to maintain occupancy rates and manage their properties effectively.
The lack of data on price-cut share and days on market (DOM) suggests that the rental market is not heavily saturated with vacancies. When there is an abundance of available rental units, landlords often reduce prices or offer incentives to attract tenants, leading to higher price-cut shares and longer DOM periods. The absence of such trends indicates that the market may be balanced or slightly favoring demand over supply, making it advantageous for landlords who can provide quality, well-priced rental units.
In summary, ZIP 42354 is a market characterized by its current alignment with steady demand, as evidenced by the modest renter share and the gap between the actual market rent and the FMR. Landlords and investors should focus on maintaining competitive pricing and property quality to capitalize on the ongoing housing needs within 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.