Housing market/Kentucky/ZIP 40228
ZIP 40228 Louisville, Kentucky
Louisville, KY-IN HUD Metro FMR Area · Kentucky. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.
ZIP brief
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HUD schedule, ACS stock, and the 90–110% band for ZIP 40228 · KY — sent to you.
ZIP 40228 · KY
ACS rent vs 2BR SAFMR
ZIP 40228 — Louisville, KY HUD Section 8 Payment Standards / SAFMR →ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.
Housing stock
ACS 2023 units-in-structure · ZCTA 40228
- 1-unit detached5,64874.2%
- 1-unit attached85011.2%
- 2–4 units2463.2%
- 5–49 units7159.4%
- 50+ units1542.0%
2–4 unit share 3.2% · 5–49 unit share 9.4% · combined 2–49 12.6%.
Units by bedrooms
Rent burden
- ACS median gross rent $1,370 (all bedrooms, occupied rentals).
- Median contract rent $1,147.
- Renters paying ≥30% of income 37.6%; ≥50% 4.4%.
- FY2027 2BR SAFMR $1,580 (1.153× ACS median gross rent).
Population
18,491 residents · ACS 2023
Change versus the 2018 ACS 5-year estimate: +14.3%.
ACS 5-year estimates lag current construction. This is not a forecast.
Assisted inventory
- LIHTC: 1 projects, 40 units.
- HUD project-based assisted MF: 3 properties, 161 assisted units.
- HCV household counts (Picture of Subsidized Households) are not on this page yet.
New apartment permits
About 1,817 new apartments in 5+ unit buildings may have been permitted in this ZIP’s share of the county. That is units (doors), not a building count.
Cities and counties report building permits to the Census. Apartment counts are for the whole county, not a project list in this ZIP.
What the data shows
ZIP 40228 20.2% of occupied households are renters; vacancy is 3.8%; ACS median gross rent is $1,370; population increased +14.3% between the 2018 and 2023 ACS vintages; the housing stock includes 246 units in 2–4-unit structures and 715 units in 5–49-unit structures; 1 LIHTC projects totaling 40 units; FY2027 2BR SAFMR is $1,580 versus ACS median gross rent of $1,370. These figures describe the underlying housing market, not the cash flow of any one property. Asking rents, expenses, condition, taxes, insurance, and the rent roll have to be underwritten separately.
Kentucky research
ZIP 40228 is a Census / HUD profile for Louisville, KY-IN, KY. Not a listing page. Brokerage is Georgia; out-of-state work is referral.
ZIP 40228 — Louisville, KY HUD Section 8 Payment Standards / SAFMR·Kentucky ZIP directory
Nearby ZIPs in this FMR area
Census ZIP areas approximate mail ZIPs. Sources: Census ACS 5-year 2023, HUD FY2027 Small Area FMR, HUD LIHTC and assisted multifamily lists, Census building permits (county). This page is Kentucky research. Brokerage is Georgia.
FAQ
What is the housing market like in ZIP 40228?
ZIP 40228 (Louisville, KY-IN HUD Metro FMR Area) has 18,491 residents, 7,341 households, a renter share of 20.2%, median household income of $75,762, and ACS 2023 median gross rent of $1,370. Vacancy is 3.8%. These are ZCTA estimates, not a property rent roll.
How much small multifamily housing is in 40228?
ACS counts 36 units in 2-unit buildings, 210 in 3–4 unit buildings, 509 in 5–9, 120 in 10–19, and 86 in 20–49. Combined 2–49 unit stock is 961 units. This is occupied-and-vacant stock, not listings for sale.
What is the Section 8 rent in 40228?
The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $1,580. See the full schedule and 90–110% payment-standard band on the ZIP 40228 — Louisville, KY HUD Section 8 Payment Standards / SAFMR.
Does this Kentucky ZIP profile include Georgia listings?
No. ZIP 40228 is Census / HUD research for Louisville, KY-IN HUD Metro FMR Area. Jeff Crowe CRE does not list Kentucky property. Licensed brokerage is Georgia. If you use this stock table and then buy in Georgia, live FMLS Residential Income is on multifamily for sale in Georgia.