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Boone County/Burlington/41005

41005

ZIPSAFMR
Boone County, KY
Zillow

ZIP Investment Score

117Above average

095130300
BRFMR
Eff. Rent
0 BR$1,340$1,470
1 BR$1,440$1,580
2 BR$1,840$1,910
3 BR$2,420$2,050
4 BR$2,730$2,480
5 BR$3,139Not available
6 BR$3,610Not available
7 BR$4,152Not available
8 BR$4,775Not available

Purchase Price Calculator

Maximum purchase price
$221,909

Cost breakdown

+Likely effective rent$1,910
HUD FMR$1,840
Market rent$1,940
Est. payment standard (104%)Used$1,910
-Principal and interest-$1,122
Loan amount$177,527
Down payment$44,382
Rate6.50%
Term30 years
-Operating costs-$588
Property taxes-$222
Insurance-$175
Utilities$0
HOA$0
Management-$191
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$30,623(69.0% ROI)
Projected value
$238,971
Return breakdown
Property appreciation+$17,063
Loan principal paid down+$6,360
Rental cash flow+$7,200
5-year hold
+$52,503(118.3% ROI)
Projected value
$251,069
Return breakdown
Property appreciation+$29,161
Loan principal paid down+$11,342
Rental cash flow+$12,000
10-year hold
+$113,180(255.0% ROI)
Projected value
$284,062
Return breakdown
Property appreciation+$62,153
Loan principal paid down+$27,026
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.70
1 BR
0.79
2 BR
0.95
3 BR
1.18
4 BR
1.10
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 41005 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 41005 (Burlington, KY) is $1,840 a month. That is up 8.9% from $1,690 in FY 2026. Burlington is in the Cincinnati, OH-KY-IN HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 12 ZIP codes in Boone County, 41005 is tied for the 2nd-highest two-bedroom rent (county range $1,200–$2,160). The median county two-bedroom FMR in Kentucky is $925, so ZIP 41005 is 99% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 41005
BedroomsFY 2027Change90–110% range
Studio$1,340+11.7%$1,206–$1,474
1BR$1,440+9.9%$1,296–$1,584
2BR$1,840+8.9%$1,656–$2,024
3BR$2,420+8.5%$2,178–$2,662
4BR$2,730+10.5%$2,457–$3,003

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 41005
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,340$1,440$1,840$2,420$2,730
FY 2026$1,200$1,310$1,690$2,230$2,470
FY 2025$1,080$1,220$1,580$2,100$2,310
FY 2024$970$1,100$1,430$1,900$2,110
FY 2023$880$1,010$1,310$1,750$1,970

Two-bedroom rent in nearby Boone County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 41005
41005Current$1,840—
41018$1,380−25.0%
41022$1,680−8.7%
41025$1,680−8.7%
41030$1,200−34.8%
41042$1,730−6.0%
41048$1,830−0.5%
41051$1,650−10.3%
41080$1,8400.0%
41091$2,160+17.4%
41092$1,330−27.7%
41094$1,580−14.1%

Questions about ZIP 41005 rents

How much will Section 8 pay for a two-bedroom in ZIP 41005?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,840, that basic range is $1,656 to $2,024 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 41005 in?

ZIP 41005 is in the Cincinnati, OH-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 41005 for FY 2027?

The two-bedroom FMR rose 8.9%, from $1,690 in FY 2026 to $1,840 in FY 2027. Since FY 2023 it has risen 40.5%.

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