Section 8 Fair Market Rent (FMR) for ZIP 47151 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 47151, located in Kentucky, is a region that offers unique opportunities for real estate investment, particularly in the context of Section 8 housing. The following analysis provides key insights into the rental market and housing conditions, drawing from available data points.

• The Fair Market Rent (FMR) for ZIP 47151 in fiscal year 2024 is set at $1220, providing a benchmark for rental rates that are considered fair for the area.
• The median home value in the ZIP code is currently N/A, indicating limited data on home values which can be attributed to the rural nature of the area.
• Renter share, or the percentage of households that rent rather than own their homes, is N/A. This suggests that there may be a lack of comprehensive data on the tenant population, though it's likely to be significant given the presence of Section 8 housing.
• The Days on Market (DOM), a metric reflecting how long properties typically stay listed before selling, is also N/A, pointing to a scarcity of recent sales data.
• The median household income in ZIP 47151 is N/A, which means that there is insufficient data to determine the average financial status of residents, but this can be inferred from the presence of Section 8 housing.

Investors looking to enter the ZIP 47151 market should focus on properties that align with the established Fair Market Rent of $1220. Given the lack of detailed data on home values, tenant demographics, and recent sales activity, it's advisable to conduct thorough local research to understand the demand and supply dynamics. The presence of Section 8 housing indicates a potential market for affordable rental units, which could be a stable investment option despite the limited availability of comprehensive economic indicators.

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.