41025

ZIPSAFMR

Boone County, KY

ZIP Investment Score

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,230	$1,160	10.2%
1 BR	$1,310	$1,210	7.7%
2 BR	$1,680	$1,580	7.3%
3 BR	$2,210	$1,850	6.9%
4 BR	$2,490	$1,930	7.4%
5 BR	$2,864	Not available	7.4%
6 BR	$3,293	Not available	7.4%
7 BR	$3,787	Not available	7.4%
8 BR	$4,355	Not available	7.4%

Purchase Price Calculator

Maximum purchase price

$172,871

Cost breakdown

+Likely effective rent$1,580

HUD FMR$1,680

Market rentUsed$1,580

Est. payment standard (96%)$1,620

-Principal and interest-$874

Loan amount$138,297

Down payment$34,574

Rate6.50%

Term30 years

-Operating costs-$506

Property taxes-$173

Insurance-$175

Utilities$0

HOA$0

Management-$158

=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

+$25,447(73.6% ROI)

Projected value

$186,163

Return breakdown

Property appreciation+$13,292

Loan principal paid down+$4,955

Rental cash flow+$7,200

5-year hold

+$43,552(126.0% ROI)

Projected value

$195,588

Return breakdown

Property appreciation+$22,717

Loan principal paid down+$8,836

Rental cash flow+$12,000

10-year hold

+$93,473(270.4% ROI)

Projected value

$221,289

Return breakdown

Property appreciation+$48,418

Loan principal paid down+$21,054

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.06ratio

FMR$1,230

Market$1,160

vs market+$70

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

1.06

1 BR

1.08ratio

FMR$1,310

Market$1,210

vs market+$100

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

1.08

2 BR

1.06ratio

FMR$1,680

Market$1,580

vs market+$100

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

1.06

3 BR

1.19ratio

FMR$2,210

Market$1,850

vs market+$360

FMR is above market; underwrite to market rent.

1.19

4 BR

1.29ratio

FMR$2,490

Market$1,930

vs market+$560

FMR is above market; underwrite to market rent.

1.29

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 41025 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 41025 (Erlanger, KY) is $1,680 a month. That is up 9.1% from $1,540 in FY 2026. Erlanger 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, 41025 is tied for the 6th-highest two-bedroom rent (county range $1,200–$2,160). The median county two-bedroom FMR in Kentucky is $925, so ZIP 41025 is 82% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 41025
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,090	$1,230	+12.8%	$1,107–$1,353
1BR	$1,200	$1,310	+9.2%	$1,179–$1,441
2BR	$1,540	$1,680	+9.1%	$1,512–$1,848
3BR	$2,030	$2,210	+8.9%	$1,989–$2,431
4BR	$2,250	$2,490	+10.7%	$2,241–$2,739

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 41025
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,230	$1,310	$1,680	$2,210	$2,490
FY 2026	$1,090	$1,200	$1,540	$2,030	$2,250
FY 2025	$1,010	$1,130	$1,470	$1,950	$2,150
FY 2024	$920	$1,050	$1,360	$1,810	$2,010
FY 2023	$840	$960	$1,250	$1,670	$1,880

Two-bedroom rent in nearby Boone County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 41025
41005	$1,840	+9.5%
41018	$1,380	−17.9%
41022	$1,680	0.0%
41025Current	$1,680	—
41030	$1,200	−28.6%
41042	$1,730	+3.0%
41048	$1,830	+8.9%
41051	$1,650	−1.8%
41080	$1,840	+9.5%
41091	$2,160	+28.6%
41092	$1,330	−20.8%
41094	$1,580	−6.0%

Questions about ZIP 41025 rents

How much will Section 8 pay for a two-bedroom in ZIP 41025?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,680, that basic range is $1,512 to $1,848 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 41025 in?

ZIP 41025 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 41025 for FY 2027?

The two-bedroom FMR rose 9.1%, from $1,540 in FY 2026 to $1,680 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 rent Erlanger, KY fair market rent KY statewide rents What is SAFMR?Data sources