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Boone County/Hebron/41048

41048

ZIPSAFMR
Boone County, KY
Zillow

ZIP Investment Score

115Above average

095130300
BRFMR
Eff. Rent
0 BR$1,330$1,390
1 BR$1,430$1,360
2 BR$1,830$1,710
3 BR$2,410$2,030
4 BR$2,720$2,560
5 BR$3,128Not available
6 BR$3,597Not available
7 BR$4,137Not available
8 BR$4,757Not available

Purchase Price Calculator

Maximum purchase price
$192,189

Cost breakdown

+Likely effective rent$1,710
HUD FMR$1,830
Market rentUsed$1,710
Est. payment standard (96%)$1,750
-Principal and interest-$972
Loan amount$153,751
Down payment$38,438
Rate6.50%
Term30 years
-Operating costs-$538
Property taxes-$192
Insurance-$175
Utilities$0
HOA$0
Management-$171
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$27,486(71.5% ROI)
Projected value
$206,966
Return breakdown
Property appreciation+$14,778
Loan principal paid down+$5,509
Rental cash flow+$7,200
5-year hold
+$47,078(122.5% ROI)
Projected value
$217,444
Return breakdown
Property appreciation+$25,255
Loan principal paid down+$9,823
Rental cash flow+$12,000
10-year hold
+$101,236(263.4% ROI)
Projected value
$246,018
Return breakdown
Property appreciation+$53,829
Loan principal paid down+$23,407
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.94
1 BR
1.05
2 BR
1.07
3 BR
1.19
4 BR
1.06
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 41048 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 41048 (Hebron, KY) is $1,830 a month. That is up 5.8% from $1,730 in FY 2026. Hebron 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, 41048 has the 4th-highest two-bedroom rent (county range $1,200–$2,160). The median county two-bedroom FMR in Kentucky is $925, so ZIP 41048 is 98% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 41048
BedroomsFY 2027Change90–110% range
Studio$1,330+8.1%$1,197–$1,463
1BR$1,430+6.7%$1,287–$1,573
2BR$1,830+5.8%$1,647–$2,013
3BR$2,410+5.7%$2,169–$2,651
4BR$2,720+7.5%$2,448–$2,992

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 41048
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,330$1,430$1,830$2,410$2,720
FY 2026$1,230$1,340$1,730$2,280$2,530
FY 2025$1,150$1,290$1,670$2,210$2,450
FY 2024$1,060$1,210$1,570$2,090$2,320
FY 2023$990$1,140$1,480$1,980$2,230

Two-bedroom rent in nearby Boone County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 41048
41005$1,840+0.5%
41018$1,380−24.6%
41022$1,680−8.2%
41025$1,680−8.2%
41030$1,200−34.4%
41042$1,730−5.5%
41048Current$1,830—
41051$1,650−9.8%
41080$1,840+0.5%
41091$2,160+18.0%
41092$1,330−27.3%
41094$1,580−13.7%

Questions about ZIP 41048 rents

How much will Section 8 pay for a two-bedroom in ZIP 41048?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,830, that basic range is $1,647 to $2,013 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 41048 in?

ZIP 41048 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 41048 for FY 2027?

The two-bedroom FMR rose 5.8%, from $1,730 in FY 2026 to $1,830 in FY 2027. Since FY 2023 it has risen 23.6%.

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