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Jessamine County/Wilmore/40390

40390

ZIPSAFMR
Jessamine County, KY
Zillow

ZIP Investment Score

75Below average

095130300
BRFMR
Eff. Rent
0 BR$800$880
1 BR$980$1,080
2 BR$1,150$1,200
3 BR$1,570$1,600
4 BR$1,750$1,710
5 BR$2,012Not available
6 BR$2,314Not available
7 BR$2,662Not available
8 BR$3,061Not available

Purchase Price Calculator

Maximum purchase price
$116,403

Cost breakdown

+Likely effective rent$1,200
HUD FMR$1,150
Market rent$1,220
Est. payment standard (104%)Used$1,200
-Principal and interest-$589
Loan amount$93,122
Down payment$23,281
Rate6.50%
Term30 years
-Operating costs-$411
Property taxes-$116
Insurance-$175
Utilities$0
HOA$0
Management-$120
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$19,487(83.7% ROI)
Projected value
$125,353
Return breakdown
Property appreciation+$8,950
Loan principal paid down+$3,336
Rental cash flow+$7,200
5-year hold
+$33,246(142.8% ROI)
Projected value
$131,699
Return breakdown
Property appreciation+$15,296
Loan principal paid down+$5,950
Rental cash flow+$12,000
10-year hold
+$70,780(304.0% ROI)
Projected value
$149,006
Return breakdown
Property appreciation+$32,603
Loan principal paid down+$14,177
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.68
1 BR
0.85
2 BR
0.94
3 BR
0.97
4 BR
1.02
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 40390 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 40390 (Wilmore, KY) is $1,150 a month. That is up 9.5% from $1,050 in FY 2026. Wilmore 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, 40390 has the 7th-highest two-bedroom rent (county range $1,150–$1,800). The median county two-bedroom FMR in Kentucky is $925, so ZIP 40390 is 24% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 40390
BedroomsFY 2027Change90–110% range
Studio$800+9.6%$720–$880
1BR$980+10.1%$882–$1,078
2BR$1,150+9.5%$1,035–$1,265
3BR$1,570+9.0%$1,413–$1,727
4BR$1,750+8.7%$1,575–$1,925

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 40390
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$800$980$1,150$1,570$1,750
FY 2026$730$890$1,050$1,440$1,610
FY 2025$730$890$1,060$1,440$1,630
FY 2024$670$820$980$1,330$1,500
FY 2023$580$690$840$1,140$1,350

Two-bedroom rent in nearby Jessamine County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 40390
40339$1,360+18.3%
40340$1,330+15.7%
40356$1,360+18.3%
40383$1,360+18.3%
40390Current$1,150—
40513$1,800+56.5%
40515$1,690+47.0%

Questions about ZIP 40390 rents

How much will Section 8 pay for a two-bedroom in ZIP 40390?

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 $1,150 it would be $1,035 to $1,265. 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 40390 in?

ZIP 40390 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 40390 for FY 2027?

The two-bedroom FMR rose 9.5%, from $1,050 in FY 2026 to $1,150 in FY 2027. Since FY 2023 it has risen 36.9%.

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