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Jefferson County/Louisville/40217

40217

ZIPSAFMR
Jefferson County, KY
Zillow

ZIP Investment Score

115Above average

095130300
BRFMR
Eff. Rent
0 BR$1,030$880
1 BR$1,120$1,160
2 BR$1,350$1,450
3 BR$1,720$1,790
4 BR$1,980$2,010
5 BR$2,277Not available
6 BR$2,619Not available
7 BR$3,011Not available
8 BR$3,463Not available

Purchase Price Calculator

Maximum purchase price
$153,553

Cost breakdown

+Likely effective rent$1,450
HUD FMR$1,350
Market rent$1,500
Est. payment standard (107%)Used$1,450
-Principal and interest-$776
Loan amount$122,842
Down payment$30,711
Rate6.50%
Term30 years
-Operating costs-$474
Property taxes-$154
Insurance-$175
Utilities$0
HOA$0
Management-$145
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$23,408(76.2% ROI)
Projected value
$165,360
Return breakdown
Property appreciation+$11,807
Loan principal paid down+$4,401
Rental cash flow+$7,200
5-year hold
+$40,027(130.3% ROI)
Projected value
$173,731
Return breakdown
Property appreciation+$20,178
Loan principal paid down+$7,848
Rental cash flow+$12,000
10-year hold
+$85,709(279.1% ROI)
Projected value
$196,561
Return breakdown
Property appreciation+$43,008
Loan principal paid down+$18,701
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.17
1 BR
0.95
2 BR
0.90
3 BR
0.95
4 BR
0.98
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 40217 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 40217 (Louisville, KY) is $1,350 a month. That is down 0.7% from $1,360 in FY 2026. Louisville 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 61 ZIP codes in Jefferson County, 40217 is tied for the 20th-highest two-bedroom rent (county range $1,010–$1,910). The median county two-bedroom FMR in Kentucky is $925, so ZIP 40217 is 46% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 40217
BedroomsFY 2027Change90–110% range
Studio$1,0300.0%$927–$1,133
1BR$1,1200.0%$1,008–$1,232
2BR$1,350−0.7%$1,215–$1,485
3BR$1,720−1.1%$1,548–$1,892
4BR$1,980−2.0%$1,782–$2,178

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 40217
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,030$1,120$1,350$1,720$1,980
FY 2026$1,030$1,120$1,360$1,740$2,020
FY 2025$1,080$1,180$1,430$1,840$2,140
FY 2024$1,030$1,130$1,370$1,790$2,060
FY 2023$800$910$1,090$1,440$1,660

Two-bedroom rent in nearby Jefferson County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 40217
40211$1,110−17.8%
40212$1,140−15.6%
40213$1,110−17.8%
40214$1,170−13.3%
40215$1,220−9.6%
40216$1,070−20.7%
40217Current$1,350—
40218$1,320−2.2%
40219$1,230−8.9%
40220$1,440+6.7%
40221$1,300−3.7%
40222$1,530+13.3%

Questions about ZIP 40217 rents

How much will Section 8 pay for a two-bedroom in ZIP 40217?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,350, that basic range is $1,215 to $1,485 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 40217 in?

ZIP 40217 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 40217 for FY 2027?

The two-bedroom FMR fell 0.7%, from $1,360 in FY 2026 to $1,350 in FY 2027. Since FY 2023 it has risen 23.9%.

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