Location: Russell County, KY | Metro: Russell County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $690 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,120 |
| 4 Bedrooms | $1,310 |
| 5 Bedrooms | $1,520 |
| 6 Bedrooms | $1,702 |
| 7 Bedrooms | $1,838 |
| 8 Bedrooms | $1,930 |
U.S. Census Bureau data (2024)
ZIP 42629, located in Jamestown, KY, serves as a valuable diversifier within a Section 8 portfolio strategy. The area's median home value stands at $162,231, while the median income is $36,484, indicating a modest economic environment.
The Fair Market Rent (FMR) for the Jamestown, KY metro area in fiscal year 2026 is set at $870, significantly higher than the market rent of $650. This $220 spread between FMR and market rent ensures positive cash flow for landlords participating in the Section 8 program. However, the high FMR does not necessarily translate into rapid appreciation, given the low price-cut share of 0.1% and the non-applicable day DOM (days on market).
With a 28.2% renter share, Jamestown offers a steady pool of potential tenants for Section 8 properties. The combination of a manageable median home value and a reasonable median income makes it an attractive location for landlords looking to balance risk and reward within their investment portfolios. By including ZIP 42629 in a broader Section 8 strategy, landlords can benefit from consistent rental income without the volatility associated with rapidly appreciating markets.
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.