Location: Henderson County, KY | Metro: Henderson County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
The ZIP code 42419 in Kentucky presents a dynamic market, characterized by the Federal Market Rent (FMR) figure of $940 for the fiscal year 2024. This FMR is a critical benchmark for understanding the rental landscape within the bounds of Section 8 programs. However, the absence of data on market rent, price-cut share, days on market (DOM), and median home value leaves several questions unanswered regarding the balance between supply and demand.
In the context of Section 8, the FMR of $940 suggests that landlords who wish to participate in the program must ensure their rental properties are priced competitively within this range. The lack of information on market rent could indicate that the local rental market is either not well-documented or that it closely aligns with the FMR, making it a reliable indicator for potential tenants.
The missing percentage for price-cut share and days on market implies that rental units in ZIP 42419 may be selling quickly once listed, without significant price adjustments. This inference points towards a market where demand might be strong enough to absorb the available supply without prolonged vacancy periods. In such a scenario, landlords can expect steady occupancy rates, but they must remain vigilant to maintain competitive pricing.
Absence of data on the median home value indicates that homeownership trends are unclear. However, the unknown percentage of renters in the area suggests a significant portion of the population relies on rentals, which could exert long-term housing pressure. With a high reliance on rental housing, there is an ongoing need for rental properties, potentially favoring landlords over homeowners in terms of immediate demand.
The dynamics of ZIP 42419 highlight a market where rental demand appears robust, supported by the Section 8 program's presence. Landlords and small-portfolio investors should focus on maintaining properties that meet the standards for participation in the program while keeping rents at or below the FMR level. This strategy ensures a steady stream of eligible tenants and minimizes vacancy risks.
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.