Real Estate Investing in Paris, Kentucky (40361)
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Should you buy in 40361 (Paris, KY)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 11.5% vacancy may signal weakening demand.
What’s happening in Paris, KY (40361)?
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Market Analysis: 40361 Paris
Meanwhile, ZIP 40361 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $260K median. It rewards specialists, not generalists.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 40361 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Regionally, 40361 sits on the difficult end of the KY spectrum. The a credible choice for read — for disciplined operators — is that pricing reflects the difficulty.
The demographic picture in 40361 includes headwinds that any investor should price in. Income distribution skews lower than Paris averages, and tenant stability requires active management.
appears to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Paris:
Property Strategy for 40361
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $160,191 | $1,050 | 4.7% | +9.1% | $80,096 |
| 3BR | $236,331 | $1,430 | 4.4% | +7.6% | $78,777 |
| 4BR | $349,108 | $1,610 | 3.3% | +7.8% | $87,277 |
| 5BR | $401,279 | — | — | +7.7% | $80,256 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 40361 Compare?
| Metric | 40361 | Paris | Lexington-Fayette, KY | Kentucky |
|---|---|---|---|---|
| Home Value | $260,316 | $260,316 | N/A | $225,788 |
| 5-Year CAGR | 6.0% | 6.0% | N/A | 6.9% |
| Avg Rent | $1,023 | $1,023 | N/A | - |
| Cap Rate | 3.1% | 3.1% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 40361 (Paris, KY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $260,316 |
| Monthly Rent | $1,023 |
| Price-to-Rent | 21.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.7% |
| Cap Rate | 3.1% |
| 5-Year IRR | 9.1% |
📈 Home Appreciation
| 1-Year | +5.4% ▲ |
| 3-Year CAGR | +5.3% ▲ |
| 5-Year CAGR | +6.0% ▲ |
| 10-Year CAGR | +7.0% ▲ |
🏠 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 (3.1%). 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 40361
Population: 18,422
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
🎓 Schools in 40361
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
What are home prices like in Paris, KY?
Homes in Paris, KY typically sell near $260K. Prices have moved at a 0.0% 5-year CAGR, which reliable long-term demand.
Is vacancy a concern in Paris, KY?
Occupancy in Paris, KY runs steady with elevated vacancy. Well-priced units at $1,023/mo lease on reasonable timelines.
How strong is tenant demand in Paris, KY?
The tenant pool in Paris, KY is solid, supported by local employment and population fundamentals. Rents of $1,023/mo are well-absorbed by the market.
How landlord-friendly is Paris, KY?
KY ranks as a landlord-friendly state for landlord-tenant law. Paris generally follows the statewide framework, so landlords face reasonable operating rules.
What type of investing works in Paris, KY?
In Paris, KY the solid play is typically careful cash-flow rentals with hands-on management. The combination of $260K prices and $1,023/mo rents suits that approach.
You know 40361 now. You don’t know where it ranks.
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How 40361 ranks in Lexington-Fayette, KY
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