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Bullitt County/West Point/40177

40177

ZIPSAFMR
Bullitt County, KY
Zillow

ZIP Investment Score

129Above average

095130300
BRFMR
Eff. Rent
0 BR$790$790
1 BR$820$820
2 BR$1,010$1,010
3 BR$1,380$1,380
4 BR$1,640$1,640
5 BR$1,886Not available
6 BR$2,169Not available
7 BR$2,494Not available
8 BR$2,868Not available

Purchase Price Calculator

Maximum purchase price
$88,169

Cost breakdown

+Likely effective rent$1,010
HUD FMRUsed$1,010
Market rentN/A
Est. payment standardN/A
-Principal and interest-$446
Loan amount$70,535
Down payment$17,634
Rate6.50%
Term30 years
-Operating costs-$364
Property taxes-$88
Insurance-$175
Utilities$0
HOA$0
Management-$101
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$16,506(93.6% ROI)
Projected value
$94,948
Return breakdown
Property appreciation+$6,779
Loan principal paid down+$2,527
Rental cash flow+$7,200
5-year hold
+$28,093(159.3% ROI)
Projected value
$99,755
Return breakdown
Property appreciation+$11,586
Loan principal paid down+$4,507
Rental cash flow+$12,000
10-year hold
+$59,433(337.0% ROI)
Projected value
$112,864
Return breakdown
Property appreciation+$24,695
Loan principal paid down+$10,738
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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ZIP 40177 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 40177 (West Point, KY) is $1,010 a month. That is down 5.6% from $1,070 in FY 2026. West Point 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 14 ZIP codes in Bullitt County, 40177 is tied for the 13th-highest two-bedroom rent (county range $1,010–$1,550). The median county two-bedroom FMR in Kentucky is $925, so ZIP 40177 is 9% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 40177
BedroomsFY 2027Change90–110% range
Studio$790−1.2%$711–$869
1BR$820−6.8%$738–$902
2BR$1,010−5.6%$909–$1,111
3BR$1,380−0.7%$1,242–$1,518
4BR$1,640+3.1%$1,476–$1,804

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 40177
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$790$820$1,010$1,380$1,640
FY 2026$800$880$1,070$1,390$1,590
FY 2025$880$970$1,180$1,540$1,760
FY 2024$700$790$950$1,260$1,480
FY 2023$630$720$870$1,160$1,350

Two-bedroom rent in nearby Bullitt County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 40177
40071$1,110+9.9%
40109$1,230+21.8%
40110$1,100+8.9%
40129$1,190+17.8%
40150$1,0100.0%
40165$1,140+12.9%
40166$1,190+17.8%
40177Current$1,010—
40207$1,550+53.5%
40229$1,480+46.5%
40272$1,350+33.7%
40299$1,470+45.5%

Questions about ZIP 40177 rents

How much will Section 8 pay for a two-bedroom in ZIP 40177?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,010, that basic range is $909 to $1,111 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 40177 in?

ZIP 40177 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 40177 for FY 2027?

The two-bedroom FMR fell 5.6%, from $1,070 in FY 2026 to $1,010 in FY 2027. Since FY 2023 it has risen 16.1%.

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 rentWest Point, KY fair market rentKY statewide rentsWhat is SAFMR?Data sources