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Jefferson County/Louisville/40245

40245

ZIPSAFMR
Jefferson County, KY
Zillow

ZIP Investment Score

88Below average

095130300
BRFMR
Eff. Rent
0 BR$1,390$1,390
1 BR$1,520$1,370
2 BR$1,820$1,820
3 BR$2,320$2,210
4 BR$2,680$2,670
5 BR$3,082Not available
6 BR$3,544Not available
7 BR$4,076Not available
8 BR$4,687Not available

Purchase Price Calculator

Maximum purchase price
$208,535

Cost breakdown

+Likely effective rent$1,820
HUD FMR$1,820
Market rent$1,820
Est. payment standard (100%)Used$1,820
-Principal and interest-$1,054
Loan amount$166,828
Down payment$41,707
Rate6.50%
Term30 years
-Operating costs-$566
Property taxes-$209
Insurance-$175
Utilities$0
HOA$0
Management-$182
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$29,211(70.0% ROI)
Projected value
$224,569
Return breakdown
Property appreciation+$16,034
Loan principal paid down+$5,977
Rental cash flow+$7,200
5-year hold
+$50,062(120.0% ROI)
Projected value
$235,938
Return breakdown
Property appreciation+$27,403
Loan principal paid down+$10,659
Rental cash flow+$12,000
10-year hold
+$107,805(258.5% ROI)
Projected value
$266,942
Return breakdown
Property appreciation+$58,407
Loan principal paid down+$25,398
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.00
1 BR
1.11
2 BR
1.00
3 BR
1.05
4 BR
1.00
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 40245 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 40245 (Louisville, KY) is $1,820 a month. That is up 1.1% from $1,800 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, 40245 has the 2nd-highest two-bedroom rent (county range $1,010–$1,910). The median county two-bedroom FMR in Kentucky is $925, so ZIP 40245 is 97% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 40245
BedroomsFY 2027Change90–110% range
Studio$1,390+0.7%$1,251–$1,529
1BR$1,520+2.0%$1,368–$1,672
2BR$1,820+1.1%$1,638–$2,002
3BR$2,320+0.9%$2,088–$2,552
4BR$2,6800.0%$2,412–$2,948

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 40245
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,390$1,520$1,820$2,320$2,680
FY 2026$1,380$1,490$1,800$2,300$2,680
FY 2025$1,380$1,510$1,820$2,350$2,720
FY 2024$1,340$1,480$1,780$2,330$2,670
FY 2023$1,070$1,200$1,450$1,910$2,200

Two-bedroom rent in nearby Jefferson County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 40245
40233$1,300−28.6%
40241$1,640−9.9%
40242$1,450−20.3%
40243$1,480−18.7%
40245Current$1,820—
40250$1,300−28.6%
40251$1,300−28.6%
40252$1,300−28.6%
40253$1,300−28.6%
40255$1,300−28.6%
40256$1,300−28.6%
40257$1,300−28.6%

Questions about ZIP 40245 rents

How much will Section 8 pay for a two-bedroom in ZIP 40245?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,820, that basic range is $1,638 to $2,002 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 40245 in?

ZIP 40245 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 40245 for FY 2027?

The two-bedroom FMR rose 1.1%, from $1,800 in FY 2026 to $1,820 in FY 2027. Since FY 2023 it has risen 25.5%.

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