Real Estate Investing in Smithfield, Kentucky (40068)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 40068 (Smithfield, KY)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High price-to-rent: Price-to-rent ratio 29.8 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Smithfield, KY (40068)?
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Market Analysis: 40068 Smithfield
From a cash-flow lens, ZIP 40068 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $419K median. It rewards specialists, not generalists.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 40068 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Regionally, 40068 sits on the difficult end of the KY spectrum. The an appealing option for read — for disciplined operators — is that pricing reflects the difficulty.
The 40068 ZIP's population of 2,663 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that sits at the need for careful underwriting.
Strategy in 40068 is an operator game, not a passive one. Meanwhile, entry prices of $419K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Smithfield:
Property Strategy for 40068
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 3BR | $347,777 | $1,650 | 3.4% | +7.4% | $115,926 |
| 4BR | $487,213 | $1,930 | 2.9% | +5.4% | $121,803 |
Market Trends
Home Value History (with trend line)
📊 How Does 40068 Compare?
| Metric | 40068 | Smithfield | Kentucky |
|---|---|---|---|
| Home Value | $418,613 | $418,613 | $225,788 |
| 5-Year CAGR | 6.1% | 6.1% | 6.9% |
| Avg Rent | $1,170 | $1,170 | - |
| Cap Rate | 2.2% | 2.2% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 40068 (Smithfield, KY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $418,613 |
| Monthly Rent | $1,170 |
| Price-to-Rent | 29.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.4% |
| Cap Rate | 2.2% |
| 5-Year IRR | 8.3% |
📈 Home Appreciation
| 1-Year | +7.5% ▲ |
| 3-Year CAGR | +5.2% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 10-Year CAGR | +7.5% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.2%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 40068
Population: 2,663
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Should investors consider Smithfield, KY?
Smithfield, KY sits at an investability rating of 3.0/5, with median home values near $419K and average rents around $1,170/mo. That combination puts it in the resilient tier for investor interest.
How quickly do rentals get leased in Smithfield, KY?
Vacancy in Smithfield, KY is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,170/mo.
How much rent can I charge in Smithfield, KY?
Average rent in Smithfield, KY is approximately $1,170/mo per month. Against $419K home values that yields a reasonable rent-to-price ratio.
Does a duplex house hack pencil in Smithfield, KY?
House hacking in Smithfield, KY is reasonable to execute. Prices around $419K and rents of $1,170/mo solid owner-occupant economics.
Are tenants stable in Smithfield, KY?
The tenant pool in Smithfield, KY is solid, supported by local employment and population fundamentals. Rents of $1,170/mo are well-absorbed by the market.
You know 40068 now. You don’t know where it ranks.
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How 40068 ranks in Louisville/Jefferson County, KY-IN
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