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Jessamine County/Keene/40339

40339

ZIPSAFMR
Jessamine County, KY
Zillow

ZIP Investment Score

176High yield potential

095130300
BRFMR
Eff. Rent
0 BR$950$1,050
1 BR$1,160$1,280
2 BR$1,360$1,500
3 BR$1,870$1,930
4 BR$2,020$2,150
5 BR$2,323Not available
6 BR$2,671Not available
7 BR$3,072Not available
8 BR$3,533Not available

Purchase Price Calculator

Maximum purchase price
$160,983

Cost breakdown

+Likely effective rent$1,500
HUD FMR$1,360
Market rent$1,820
Est. payment standard (110%)Used$1,500
-Principal and interest-$814
Loan amount$128,786
Down payment$32,197
Rate6.50%
Term30 years
-Operating costs-$486
Property taxes-$161
Insurance-$175
Utilities$0
HOA$0
Management-$150
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$24,192(75.1% ROI)
Projected value
$173,361
Return breakdown
Property appreciation+$12,378
Loan principal paid down+$4,614
Rental cash flow+$7,200
5-year hold
+$41,383(128.5% ROI)
Projected value
$182,137
Return breakdown
Property appreciation+$21,154
Loan principal paid down+$8,228
Rental cash flow+$12,000
10-year hold
+$88,695(275.5% ROI)
Projected value
$206,072
Return breakdown
Property appreciation+$45,089
Loan principal paid down+$19,606
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.56
1 BR
0.70
2 BR
0.75
3 BR
0.95
4 BR
0.91
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 40339 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 40339 (Keene, KY) is $1,360 a month. That is up 15.3% from $1,180 in FY 2026. Keene is in the Lexington-Fayette, KY MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,416. Among 7 ZIP codes in Jessamine County, 40339 is tied for the 3rd-highest two-bedroom rent (county range $1,150–$1,800). The median county two-bedroom FMR in Kentucky is $925, so ZIP 40339 is 47% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 40339
BedroomsFY 2027Change90–110% range
Studio$950+15.9%$855–$1,045
1BR$1,160+16.0%$1,044–$1,276
2BR$1,360+15.3%$1,224–$1,496
3BR$1,870+16.1%$1,683–$2,057
4BR$2,020+12.8%$1,818–$2,222

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 40339
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$950$1,160$1,360$1,870$2,020
FY 2026$820$1,000$1,180$1,610$1,790
FY 2025$730$890$1,060$1,440$1,630
FY 2024$710$860$1,030$1,410$1,590
FY 2023$630$750$910$1,240$1,430

Two-bedroom rent in nearby Jessamine County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 40339
40339Current$1,360—
40340$1,330−2.2%
40356$1,3600.0%
40383$1,3600.0%
40390$1,150−15.4%
40513$1,800+32.4%
40515$1,690+24.3%

Questions about ZIP 40339 rents

How much will Section 8 pay for a two-bedroom in ZIP 40339?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,416, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,274 to $1,558 a month; under the ZIP-level Small Area FMR of $1,360 it would be $1,224 to $1,496. 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 40339 in?

ZIP 40339 is in the Lexington-Fayette, KY MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,416.

How much did fair market rent change in ZIP 40339 for FY 2027?

The two-bedroom FMR rose 15.3%, from $1,180 in FY 2026 to $1,360 in FY 2027. Since FY 2023 it has risen 49.5%.

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