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Cumberland County/Chebeague Island/04017

04017

ZIPSAFMR
Cumberland County, ME
Zillow

ZIP Investment Score

67Below average

095130300
BRFMR
Eff. Rent
0 BR$2,190$2,190
1 BR$2,490$2,490
2 BR$3,140$3,140
3 BR$3,870$3,870
4 BR$4,130$4,130
5 BR$4,750Not available
6 BR$5,462Not available
7 BR$6,281Not available
8 BR$7,223Not available

Purchase Price Calculator

Maximum purchase price
$404,686

Cost breakdown

+Likely effective rent$3,140
HUD FMRUsed$3,140
Market rentN/A
Est. payment standardN/A
-Principal and interest-$2,046
Loan amount$323,749
Down payment$80,937
Rate6.50%
Term30 years
-Operating costs-$894
Property taxes-$405
Insurance-$175
Utilities$0
HOA$0
Management-$314
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$49,916(61.7% ROI)
Projected value
$435,803
Return breakdown
Property appreciation+$31,117
Loan principal paid down+$11,599
Rental cash flow+$7,200
5-year hold
+$85,863(106.1% ROI)
Projected value
$457,865
Return breakdown
Property appreciation+$53,179
Loan principal paid down+$20,684
Rental cash flow+$12,000
10-year hold
+$186,633(230.6% ROI)
Projected value
$518,033
Return breakdown
Property appreciation+$113,346
Loan principal paid down+$49,287
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 04017 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 04017 (Chebeague Island, ME) is $3,140 a month. That is up 9.8% from $2,860 in FY 2026. Chebeague 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, 04017 has the 5th-highest two-bedroom rent (county range $1,650–$3,440). The median county two-bedroom FMR in Maine is $1,371, so ZIP 04017 is 129% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 04017
BedroomsFY 2027Change90–110% range
Studio$2,190+11.2%$1,971–$2,409
1BR$2,490+11.7%$2,241–$2,739
2BR$3,140+9.8%$2,826–$3,454
3BR$3,870+11.2%$3,483–$4,257
4BR$4,130+9.0%$3,717–$4,543

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 04017
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,190$2,490$3,140$3,870$4,130
FY 2026$1,970$2,230$2,860$3,480$3,790
FY 2025$1,840$2,080$2,680$3,280$3,680
FY 2024$1,500$1,720$2,210$2,750$3,110
FY 2023$1,290$1,500$1,930$2,430$2,840

Two-bedroom rent in nearby Cumberland County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 04017
04003$2,110−32.8%
04009$1,690−46.2%
04011$2,020−35.7%
04013$2,340−25.5%
04015$1,920−38.9%
04017Current$3,140—
04019$3,250+3.5%
04021$2,990−4.8%
04022$1,650−47.5%
04024$2,100−33.1%
04029$1,980−36.9%
04032$2,270−27.7%

Questions about ZIP 04017 rents

How much will Section 8 pay for a two-bedroom in ZIP 04017?

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 $3,140 it would be $2,826 to $3,454. 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 04017 in?

ZIP 04017 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 04017 for FY 2027?

The two-bedroom FMR rose 9.8%, from $2,860 in FY 2026 to $3,140 in FY 2027. Since FY 2023 it has risen 62.7%.

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