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Shelby County/Pewee Valley/40056

40056

ZIPSAFMR
Shelby County, KY
Zillow

ZIP Investment Score

113Above average

095130300
BRFMR
Eff. Rent
0 BR$1,190$1,310
1 BR$1,290$1,350
2 BR$1,560$1,720
3 BR$1,990$2,000
4 BR$2,290$2,520
5 BR$2,634Not available
6 BR$3,029Not available
7 BR$3,483Not available
8 BR$4,005Not available

Purchase Price Calculator

Maximum purchase price
$193,675

Cost breakdown

+Likely effective rent$1,720
HUD FMR$1,560
Market rent$1,850
Est. payment standard (110%)Used$1,720
-Principal and interest-$979
Loan amount$154,940
Down payment$38,735
Rate6.50%
Term30 years
-Operating costs-$541
Property taxes-$194
Insurance-$175
Utilities$0
HOA$0
Management-$172
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$27,643(71.4% ROI)
Projected value
$208,567
Return breakdown
Property appreciation+$14,892
Loan principal paid down+$5,551
Rental cash flow+$7,200
5-year hold
+$47,350(122.2% ROI)
Projected value
$219,125
Return breakdown
Property appreciation+$25,450
Loan principal paid down+$9,899
Rental cash flow+$12,000
10-year hold
+$101,833(262.9% ROI)
Projected value
$247,920
Return breakdown
Property appreciation+$54,245
Loan principal paid down+$23,588
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.77
1 BR
0.93
2 BR
0.84
3 BR
0.99
4 BR
0.84
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 40056 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 40056 (Pewee Valley, KY) is $1,560 a month. That is up 8.3% from $1,440 in FY 2026. Pewee Valley is in the Shelby County, KY HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 17 ZIP codes in Shelby County, 40056 has the 2nd-highest two-bedroom rent (county range $1,010–$1,820). The median county two-bedroom FMR in Kentucky is $925, so ZIP 40056 is 69% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 40056
BedroomsFY 2027Change90–110% range
Studio$1,190+9.2%$1,071–$1,309
1BR$1,290+9.3%$1,161–$1,419
2BR$1,560+8.3%$1,404–$1,716
3BR$1,990+8.2%$1,791–$2,189
4BR$2,290+7.0%$2,061–$2,519

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 40056
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,190$1,290$1,560$1,990$2,290
FY 2026$1,090$1,180$1,440$1,840$2,140
FY 2025$1,150$1,260$1,530$1,970$2,290
FY 2024$1,190$1,320$1,590$2,080$2,390
FY 2023$1,050$1,190$1,430$1,900$2,180

Two-bedroom rent in nearby Shelby County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 40056
40019$1,010−35.3%
40022$1,150−26.3%
40023$1,540−1.3%
40046$1,090−30.1%
40056Current$1,560—
40057$1,390−10.9%
40065$1,160−25.6%
40066$1,150−26.3%
40067$1,390−10.9%
40068$1,300−16.7%
40071$1,110−28.8%
40076$1,150−26.3%

Questions about ZIP 40056 rents

How much will Section 8 pay for a two-bedroom in ZIP 40056?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,560, that basic range is $1,404 to $1,716 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 40056 in?

ZIP 40056 is in the Shelby County, KY HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 40056 for FY 2027?

The two-bedroom FMR rose 8.3%, from $1,440 in FY 2026 to $1,560 in FY 2027. Since FY 2023 it has risen 9.1%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentPewee Valley, KY fair market rentKY statewide rentsWhat is SAFMR?Data sources