Location: Louisville, KY | Metro: Louisville, KY-IN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,620 |
| 5 Bedrooms | $1,879 |
| 6 Bedrooms | $2,104 |
| 7 Bedrooms | $2,272 |
| 8 Bedrooms | $2,386 |
U.S. Census Bureau data (2024)
The rent math for ZIP 40036 does not clearly favor landlords due to the lack of specific market rent data. The Fair Market Rent (FMR) set at $1190 for the fiscal year 2024 provides a benchmark, but without knowing the actual market rent, it's challenging to determine if this figure supports profitability.
Regarding the affordability of acquisition, the absence of precise data on median home values, days on market (DOM), and the percentage of homes that have been price-cut complicates a straightforward analysis. Landlords and small-portfolio investors would need to gather additional information to assess whether property purchases in this area align with their financial goals.
Tenant demand appears to be moderate. With a total population of 164, the ZIP code has a 13.4% renter share. This suggests a limited pool of potential tenants, which could impact occupancy rates and the ability to attract long-term residents.
Verdict: ZIP 40036 presents challenges for landlords and small-portfolio investors due to insufficient data on market rents and acquisition costs. While the tenant demand is present, it is constrained by the low population count. Investors should proceed cautiously, focusing on acquiring detailed local market insights before making any investment decisions. The FMR of $1190 can serve as a guideline, but it must be contextualized within the broader economic realities of the area to ensure viability.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.