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Kenton County/Covington/41014

41014

ZIPSAFMR
Kenton County, KY
Zillow

ZIP Investment Score

157High yield potential

095130300
BRFMR
Eff. Rent
0 BR$940$1,030
1 BR$1,010$1,110
2 BR$1,290$1,360
3 BR$1,700$1,780
4 BR$1,920$1,930
5 BR$2,208Not available
6 BR$2,539Not available
7 BR$2,920Not available
8 BR$3,358Not available

Purchase Price Calculator

Maximum purchase price
$140,179

Cost breakdown

+Likely effective rent$1,360
HUD FMR$1,290
Market rent$1,400
Est. payment standard (106%)Used$1,360
-Principal and interest-$709
Loan amount$112,143
Down payment$28,036
Rate6.50%
Term30 years
-Operating costs-$451
Property taxes-$140
Insurance-$175
Utilities$0
HOA$0
Management-$136
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$21,996(78.5% ROI)
Projected value
$150,957
Return breakdown
Property appreciation+$10,778
Loan principal paid down+$4,018
Rental cash flow+$7,200
5-year hold
+$37,586(134.1% ROI)
Projected value
$158,600
Return breakdown
Property appreciation+$18,421
Loan principal paid down+$7,165
Rental cash flow+$12,000
10-year hold
+$80,334(286.5% ROI)
Projected value
$179,441
Return breakdown
Property appreciation+$39,262
Loan principal paid down+$17,073
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.84
1 BR
0.78
2 BR
0.92
3 BR
0.93
4 BR
0.99
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 41014 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 41014 (Covington, KY) is $1,290 a month. That is up 7.5% from $1,200 in FY 2026. Covington 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 15 ZIP codes in Kenton County, 41014 has the 12th-highest two-bedroom rent (county range $1,120–$1,730). The median county two-bedroom FMR in Kentucky is $925, so ZIP 41014 is 39% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 41014
BedroomsFY 2027Change90–110% range
Studio$940+10.6%$846–$1,034
1BR$1,010+8.6%$909–$1,111
2BR$1,290+7.5%$1,161–$1,419
3BR$1,700+7.6%$1,530–$1,870
4BR$1,920+9.7%$1,728–$2,112

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 41014
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$940$1,010$1,290$1,700$1,920
FY 2026$850$930$1,200$1,580$1,750
FY 2025$780$870$1,130$1,500$1,660
FY 2024$710$810$1,050$1,400$1,550
FY 2023$640$740$960$1,290$1,450

Two-bedroom rent in nearby Kenton County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 41014
41011$1,530+18.6%
41012$1,380+7.0%
41014Current$1,290—
41015$1,320+2.3%
41016$1,300+0.8%
41017$1,320+2.3%
41018$1,380+7.0%
41030$1,200−7.0%
41033$1,120−13.2%
41042$1,730+34.1%
41051$1,650+27.9%
41053$1,380+7.0%

Questions about ZIP 41014 rents

How much will Section 8 pay for a two-bedroom in ZIP 41014?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,290, that basic range is $1,161 to $1,419 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 41014 in?

ZIP 41014 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 41014 for FY 2027?

The two-bedroom FMR rose 7.5%, from $1,200 in FY 2026 to $1,290 in FY 2027. Since FY 2023 it has risen 34.4%.

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