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Jefferson County/Louisville/40289

40289

ZIPFMR
Jefferson County, KY
Zillow
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ZIP Investment Score

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095130300
BRFMR
Eff. Rent
0 BR$976$890
1 BR$1,058$1,120
2 BR$1,276$1,300
3 BR$1,629$1,680
4 BR$1,874$2,050
5 BR$2,155Not available
6 BR$2,478Not available
7 BR$2,850Not available
8 BR$3,278Not available

Purchase Price Calculator

Maximum purchase price
$131,263

Cost breakdown

+Likely effective rent$1,300
HUD FMR$1,276
Market rent$1,320
Est. payment standard (102%)Used$1,300
-Principal and interest-$664
Loan amount$105,010
Down payment$26,253
Rate6.50%
Term30 years
-Operating costs-$436
Property taxes-$131
Insurance-$175
Utilities$0
HOA$0
Management-$130
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$21,055(80.2% ROI)
Projected value
$141,356
Return breakdown
Property appreciation+$10,093
Loan principal paid down+$3,762
Rental cash flow+$7,200
5-year hold
+$35,958(137.0% ROI)
Projected value
$148,512
Return breakdown
Property appreciation+$17,249
Loan principal paid down+$6,709
Rental cash flow+$12,000
10-year hold
+$76,751(292.4% ROI)
Projected value
$168,028
Return breakdown
Property appreciation+$36,765
Loan principal paid down+$15,987
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.10
1 BR
0.91
2 BR
0.97
3 BR
0.95
4 BR
0.88
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
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Tax rate
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Mortgage rate
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ZIP 40289 fair market rent, FY 2027

For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in ZIP 40289 (Louisville, KY) is $1,276 a month. That is up 0.3% from $1,272 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. The median county two-bedroom FMR in Kentucky is $925, so ZIP 40289 is 38% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 40289
BedroomsFY 2027Change90–110% range
Studio$976+1.0%$878–$1,074
1BR$1,058+1.1%$952–$1,164
2BR$1,276+0.3%$1,148–$1,404
3BR$1,629+0.2%$1,466–$1,792
4BR$1,874−0.9%$1,687–$2,061

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 40289
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$976$1,058$1,276$1,629$1,874
FY 2026$966$1,047$1,272$1,625$1,891
FY 2025$1,003$1,094$1,330$1,714$1,989
FY 2024$976$1,077$1,301$1,701$1,955
FY 2023$776$876$1,052$1,395$1,602

Questions about ZIP 40289 rents

How much will Section 8 pay for a two-bedroom in ZIP 40289?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,276, that basic range is $1,148 to $1,404 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 40289 in?

ZIP 40289 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 40289 for FY 2027?

The two-bedroom FMR rose 0.3%, from $1,272 in FY 2026 to $1,276 in FY 2027. Since FY 2023 it has risen 21.3%.

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 Fair Market Rents. 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