Location: Louisville, KY | Metro: Louisville, KY-IN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $990 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,660 |
| 4 Bedrooms | $1,910 |
| 5 Bedrooms | $2,216 |
| 6 Bedrooms | $2,482 |
| 7 Bedrooms | $2,681 |
| 8 Bedrooms | $2,815 |
ZIP code 40252, located within the Louisville, KY-IN HUD Metro FMR Area, has a Fair Market Rent (FMR) of $1,320 for a two-bedroom apartment in fiscal year 2024. For comparison, the HUD FMR for a two-bedroom unit in the entire Louisville, KY-IN HUD Metro FMR Area is $1,330. The market rent for Louisville is estimated at $1,272 for a two-bedroom unit, indicating that the FMR is 4.6% below the market rate.
The lack of specific market rent and home value data for ZIP 40252 suggests that it may not be a highly developed or popular area among investors. However, the absence of data does not necessarily mean it is underperforming; it could simply be less represented in market surveys. Given the FMR figure of $1,320, this ZIP code appears to be aligned closely with the broader metro area's FMR, suggesting it is neither a premium sub-market nor a particularly undervalued area.
Without specific renter share data, it's challenging to determine if ZIP 40252 is a Section 8 sweet spot. Typically, a high renter share combined with below-average home values would indicate such an area. Since the renter share is not provided, we cannot draw definitive conclusions about the potential for Section 8 tenants in this ZIP code. However, the FMR being slightly below the market rate might suggest a slight advantage for landlords accepting Section 8 vouchers, as it aligns closer to the actual rental costs.
To summarize, ZIP 40252 is positioned as a mid-tier neighborhood within the Louisville, KY-IN HUD Metro FMR Area, with FMR figures closely matching those of the larger metro. It is neither significantly more nor less expensive than the average, and without additional market-specific data, it remains a neutral investment option for landlords and small-portfolio investors.
Data Sources: FMR data from HUD (2027).
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.