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Oldham County/La Grange/40031

40031

ZIPSAFMR
Oldham County, KY
Zillow

ZIP Investment Score

87Below average

095130300
BRFMR
Eff. Rent
0 BR$990$1,090
1 BR$1,070$1,180
2 BR$1,290$1,420
3 BR$1,650$1,820
4 BR$1,890$2,080
5 BR$2,174Not available
6 BR$2,500Not available
7 BR$2,874Not available
8 BR$3,306Not available

Purchase Price Calculator

Maximum purchase price
$149,095

Cost breakdown

+Likely effective rent$1,420
HUD FMR$1,290
Market rent$1,720
Est. payment standard (110%)Used$1,420
-Principal and interest-$754
Loan amount$119,276
Down payment$29,819
Rate6.50%
Term30 years
-Operating costs-$466
Property taxes-$149
Insurance-$175
Utilities$0
HOA$0
Management-$142
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$22,937(76.9% ROI)
Projected value
$160,559
Return breakdown
Property appreciation+$11,464
Loan principal paid down+$4,273
Rental cash flow+$7,200
5-year hold
+$39,213(131.5% ROI)
Projected value
$168,687
Return breakdown
Property appreciation+$19,592
Loan principal paid down+$7,621
Rental cash flow+$12,000
10-year hold
+$83,918(281.4% ROI)
Projected value
$190,854
Return breakdown
Property appreciation+$41,759
Loan principal paid down+$18,158
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.55
1 BR
0.73
2 BR
0.75
3 BR
0.85
4 BR
0.83
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 40031 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 40031 (La Grange, KY) is $1,290 a month. That is down 2.3% from $1,320 in FY 2026. La Grange is in the Louisville, KY-IN HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 12 ZIP codes in Oldham County, 40031 has the 10th-highest two-bedroom rent (county range $1,100–$1,910). The median county two-bedroom FMR in Kentucky is $925, so ZIP 40031 is 39% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 40031
BedroomsFY 2027Change90–110% range
Studio$990−1.0%$891–$1,089
1BR$1,070−1.8%$963–$1,177
2BR$1,290−2.3%$1,161–$1,419
3BR$1,650−2.4%$1,485–$1,815
4BR$1,890−3.6%$1,701–$2,079

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 40031
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$990$1,070$1,290$1,650$1,890
FY 2026$1,000$1,090$1,320$1,690$1,960
FY 2025$1,030$1,130$1,370$1,770$2,050
FY 2024$980$1,080$1,310$1,710$1,970
FY 2023$770$870$1,040$1,380$1,580

Two-bedroom rent in nearby Oldham County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 40031
40010$1,330+3.1%
40014$1,360+5.4%
40026$1,620+25.6%
40031Current$1,290—
40055$1,400+8.5%
40056$1,560+20.9%
40059$1,910+48.1%
40065$1,160−10.1%
40068$1,300+0.8%
40077$1,100−14.7%
40241$1,640+27.1%
40245$1,820+41.1%

Questions about ZIP 40031 rents

How much will Section 8 pay for a two-bedroom in ZIP 40031?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,290, that basic range is $1,161 to $1,419 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 40031 in?

ZIP 40031 is in the Louisville, KY-IN HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 40031 for FY 2027?

The two-bedroom FMR fell 2.3%, from $1,320 in FY 2026 to $1,290 in FY 2027. Since FY 2023 it has risen 24.0%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentLa Grange, KY fair market rentKY statewide rentsWhat is SAFMR?Data sources