40356

ZIPSAFMR

Jessamine County, KY

ZIP Investment Score

87Below average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$950	$1,050	10.7%
1 BR	$1,160	$1,090	10.9%
2 BR	$1,360	$1,120	10.1%
3 BR	$1,870	$1,850	10.4%
4 BR	$2,020	$2,210	8.8%
5 BR	$2,323	Not available	8.8%
6 BR	$2,671	Not available	8.8%
7 BR	$3,072	Not available	8.8%
8 BR	$3,533	Not available	8.8%

Purchase Price Calculator

Maximum purchase price

$104,515

Cost breakdown

+Likely effective rent$1,120

HUD FMR$1,360

Market rentUsed$1,120

Est. payment standard (90%)$1,220

-Principal and interest-$528

Loan amount$83,612

Down payment$20,903

Rate6.50%

Term30 years

-Operating costs-$392

Property taxes-$105

Insurance-$175

Utilities$0

HOA$0

Management-$112

=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

+$18,232(87.2% ROI)

Projected value

$112,551

Return breakdown

Property appreciation+$8,036

Loan principal paid down+$2,996

Rental cash flow+$7,200

5-year hold

+$31,076(148.7% ROI)

Projected value

$118,249

Return breakdown

Property appreciation+$13,734

Loan principal paid down+$5,342

Rental cash flow+$12,000

10-year hold

+$66,002(315.8% ROI)

Projected value

$133,788

Return breakdown

Property appreciation+$29,273

Loan principal paid down+$12,729

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

0.85ratio

FMR$950

Market$1,120

vs market-$170

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

0.85

1 BR

1.06ratio

FMR$1,160

Market$1,090

vs market+$70

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

1.06

2 BR

1.21ratio

FMR$1,360

Market$1,120

vs market+$240

FMR is above market; underwrite to market rent.

1.21

3 BR

1.01ratio

FMR$1,870

Market$1,850

vs market+$20

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

1.01

4 BR

0.87ratio

FMR$2,020

Market$2,310

vs market-$290

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

0.87

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 40356 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 40356 (Nicholasville, KY) is $1,360 a month. That is up 15.3% from $1,180 in FY 2026. Nicholasville 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, 40356 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 40356 is 47% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 40356
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$820	$950	+15.9%	$855–$1,045
1BR	$1,000	$1,160	+16.0%	$1,044–$1,276
2BR	$1,180	$1,360	+15.3%	$1,224–$1,496
3BR	$1,620	$1,870	+15.4%	$1,683–$2,057
4BR	$1,800	$2,020	+12.2%	$1,818–$2,222

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 40356
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$950	$1,160	$1,360	$1,870	$2,020
FY 2026	$820	$1,000	$1,180	$1,620	$1,800
FY 2025	$730	$890	$1,060	$1,440	$1,630
FY 2024	$700	$850	$1,020	$1,390	$1,570
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 code	2 bedroom	vs. 40356
40339	$1,360	0.0%
40340	$1,330	−2.2%
40356Current	$1,360	—
40383	$1,360	0.0%
40390	$1,150	−15.4%
40513	$1,800	+32.4%
40515	$1,690	+24.3%

Questions about ZIP 40356 rents

How much will Section 8 pay for a two-bedroom in ZIP 40356?

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 40356 in?

ZIP 40356 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 40356 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 rent Nicholasville, KY fair market rent KY statewide rents What is SAFMR?Data sources