40280

ZIPSAFMR

Jefferson County, KY

ZIP Investment Score

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,100	$980	2.9%
1 BR	$1,190	$1,300	2.0%
2 BR	$1,440	$1,520	2.2%
3 BR	$1,840	$1,980	1.3%
4 BR	$2,110	$2,320	1.3%
5 BR	$2,427	Not available	1.3%
6 BR	$2,790	Not available	1.3%
7 BR	$3,209	Not available	1.3%
8 BR	$3,690	Not available	1.3%

Purchase Price Calculator

Maximum purchase price

$163,955

Cost breakdown

+Likely effective rent$1,520

HUD FMR$1,440

Market rent$1,560

Est. payment standard (105%)Used$1,520

-Principal and interest-$829

Loan amount$131,164

Down payment$32,791

Rate6.50%

Term30 years

-Operating costs-$491

Property taxes-$164

Insurance-$175

Utilities$0

HOA$0

Management-$152

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$24,506(74.7% ROI)

Projected value

$176,561

Return breakdown

Property appreciation+$12,607

Loan principal paid down+$4,699

Rental cash flow+$7,200

5-year hold

+$41,925(127.9% ROI)

Projected value

$185,500

Return breakdown

Property appreciation+$21,545

Loan principal paid down+$8,380

Rental cash flow+$12,000

10-year hold

+$89,889(274.1% ROI)

Projected value

$209,876

Return breakdown

Property appreciation+$45,921

Loan principal paid down+$19,968

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.12ratio

FMR$1,100

Market$980

vs market+$120

FMR is above market; underwrite to market rent.

1.12

1 BR

0.88ratio

FMR$1,190

Market$1,360

vs market-$170

FMR is below market; voucher rent may lag private rents.

0.88

2 BR

0.92ratio

FMR$1,440

Market$1,560

vs market-$120

FMR is near market; voucher and private rents are aligned.

0.92

3 BR

0.89ratio

FMR$1,840

Market$2,060

vs market-$220

FMR is below market; voucher rent may lag private rents.

0.89

4 BR

0.84ratio

FMR$2,110

Market$2,500

vs market-$390

FMR is below market; voucher rent may lag private rents.

0.84

0.700.800.901.001.101.201.30aligned range

Historical

FY 2023-2027

FMR: FY2027
Market rent: last ~365 days
Property value: --
Tax rate: --
Mortgage rate: --

ZIP 40280 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 40280 (Louisville, KY) is $1,440 a month. That is up 2.9% from $1,400 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, 40280 is tied for the 14th-highest two-bedroom rent (county range $1,010–$1,910). The median county two-bedroom FMR in Kentucky is $925, so ZIP 40280 is 56% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 40280
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,060	$1,100	+3.8%	$990–$1,210
1BR	$1,150	$1,190	+3.5%	$1,071–$1,309
2BR	$1,400	$1,440	+2.9%	$1,296–$1,584
3BR	$1,790	$1,840	+2.8%	$1,656–$2,024
4BR	$2,080	$2,110	+1.4%	$1,899–$2,321

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 40280
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,100	$1,190	$1,440	$1,840	$2,110
FY 2026	$1,060	$1,150	$1,400	$1,790	$2,080
FY 2025	$1,040	$1,130	$1,380	$1,780	$2,060
FY 2024	$1,010	$1,120	$1,350	$1,770	$2,030
FY 2023	$820	$920	$1,110	$1,470	$1,690

Two-bedroom rent in nearby Jefferson County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 40280
40257	$1,300	−9.7%
40258	$1,300	−9.7%
40259	$1,300	−9.7%
40261	$1,300	−9.7%
40268	$1,300	−9.7%
40269	$1,300	−9.7%
40270	$1,300	−9.7%
40272	$1,350	−6.2%
40280Current	$1,440	—
40285	$1,300	−9.7%
40291	$1,340	−6.9%
40299	$1,470	+2.1%

Questions about ZIP 40280 rents

How much will Section 8 pay for a two-bedroom in ZIP 40280?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,440, that basic range is $1,296 to $1,584 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 40280 in?

ZIP 40280 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 40280 for FY 2027?

The two-bedroom FMR rose 2.9%, from $1,400 in FY 2026 to $1,440 in FY 2027. Since FY 2023 it has risen 29.7%.

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 rent Louisville, KY fair market rent KY statewide rents What is SAFMR?Data sources