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Cumberland County/Bailey Island/04003

04003

ZIPSAFMR
Cumberland County, ME
Zillow

ZIP Investment Score

34Below average

095130300
BRFMR
Eff. Rent
0 BR$1,630$1,630
1 BR$1,690$1,690
2 BR$2,110$2,110
3 BR$2,630$2,630
4 BR$3,360$3,360
5 BR$3,864Not available
6 BR$4,444Not available
7 BR$5,110Not available
8 BR$5,877Not available

Purchase Price Calculator

Maximum purchase price
$251,629

Cost breakdown

+Likely effective rent$2,110
HUD FMRUsed$2,110
Market rentN/A
Est. payment standardN/A
-Principal and interest-$1,272
Loan amount$201,303
Down payment$50,326
Rate6.50%
Term30 years
-Operating costs-$638
Property taxes-$252
Insurance-$175
Utilities$0
HOA$0
Management-$211
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$33,760(67.1% ROI)
Projected value
$270,977
Return breakdown
Property appreciation+$19,348
Loan principal paid down+$7,212
Rental cash flow+$7,200
5-year hold
+$57,927(115.1% ROI)
Projected value
$284,695
Return breakdown
Property appreciation+$33,066
Loan principal paid down+$12,861
Rental cash flow+$12,000
10-year hold
+$125,123(248.6% ROI)
Projected value
$322,106
Return breakdown
Property appreciation+$70,477
Loan principal paid down+$30,646
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
--
Tax rate
--
Mortgage rate
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ZIP 04003 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 04003 (Bailey Island, ME) is $2,110 a month. That is up 5.5% from $2,000 in FY 2026. Bailey Island is in the Cumberland County, ME (part) HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,941. Among 53 ZIP codes in Cumberland County, 04003 has the 35th-highest two-bedroom rent (county range $1,650–$3,440). The median county two-bedroom FMR in Maine is $1,371, so ZIP 04003 is 54% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 04003
BedroomsFY 2027Change90–110% range
Studio$1,630+18.1%$1,467–$1,793
1BR$1,690+10.5%$1,521–$1,859
2BR$2,110+5.5%$1,899–$2,321
3BR$2,630+3.1%$2,367–$2,893
4BR$3,360+6.3%$3,024–$3,696

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 04003
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,630$1,690$2,110$2,630$3,360
FY 2026$1,380$1,530$2,000$2,550$3,160
FY 2025$1,290$1,440$1,880$2,350$2,820
FY 2024$1,120$1,310$1,680$2,110$2,460
FY 2023$1,030$1,200$1,550$1,980$2,430

Two-bedroom rent in nearby Cumberland County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 04003
04003Current$2,110—
04009$1,690−19.9%
04011$2,020−4.3%
04013$2,340+10.9%
04015$1,920−9.0%
04017$3,140+48.8%
04019$3,250+54.0%
04021$2,990+41.7%
04022$1,650−21.8%
04024$2,100−0.5%
04029$1,980−6.2%
04032$2,270+7.6%

Questions about ZIP 04003 rents

How much will Section 8 pay for a two-bedroom in ZIP 04003?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,941, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,747 to $2,135 a month; under the ZIP-level Small Area FMR of $2,110 it would be $1,899 to $2,321. 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 04003 in?

ZIP 04003 is in the Cumberland County, ME (part) HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,941.

How much did fair market rent change in ZIP 04003 for FY 2027?

The two-bedroom FMR rose 5.5%, from $2,000 in FY 2026 to $2,110 in FY 2027. Since FY 2023 it has risen 36.1%.

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 rentBailey Island, ME fair market rentME statewide rentsWhat is SAFMR?Data sources