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York County/Cornish/04020

04020

ZIPSAFMR
York County, ME
Zillow

ZIP Investment Score

71Below average

095130300
BRFMR
Eff. Rent
0 BR$1,310$1,310
1 BR$1,460$1,460
2 BR$1,740$1,740
3 BR$2,390$2,390
4 BR$2,690$2,690
5 BR$3,093Not available
6 BR$3,558Not available
7 BR$4,091Not available
8 BR$4,705Not available

Purchase Price Calculator

Maximum purchase price
$196,647

Cost breakdown

+Likely effective rent$1,740
HUD FMRUsed$1,740
Market rentN/A
Est. payment standardN/A
-Principal and interest-$994
Loan amount$157,317
Down payment$39,329
Rate6.50%
Term30 years
-Operating costs-$546
Property taxes-$197
Insurance-$175
Utilities$0
HOA$0
Management-$174
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$27,957(71.1% ROI)
Projected value
$211,767
Return breakdown
Property appreciation+$15,120
Loan principal paid down+$5,636
Rental cash flow+$7,200
5-year hold
+$47,892(121.8% ROI)
Projected value
$222,488
Return breakdown
Property appreciation+$25,841
Loan principal paid down+$10,051
Rental cash flow+$12,000
10-year hold
+$103,028(262.0% ROI)
Projected value
$251,725
Return breakdown
Property appreciation+$55,078
Loan principal paid down+$23,950
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 04020 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 04020 (Cornish, ME) is $1,740 a month. That is up 1.8% from $1,710 in FY 2026. Cornish is in the York 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 $1,792. Among 43 ZIP codes in York County, 04020 has the 39th-highest two-bedroom rent (county range $1,550–$3,010). The median county two-bedroom FMR in Maine is $1,371, so ZIP 04020 is 27% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 04020
BedroomsFY 2027Change90–110% range
Studio$1,310+2.3%$1,179–$1,441
1BR$1,460+3.5%$1,314–$1,606
2BR$1,740+1.8%$1,566–$1,914
3BR$2,390+4.4%$2,151–$2,629
4BR$2,690+5.5%$2,421–$2,959

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 04020
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,310$1,460$1,740$2,390$2,690
FY 2026$1,280$1,410$1,710$2,290$2,550
FY 2025$1,170$1,320$1,630$2,150$2,370
FY 2024$1,020$1,130$1,410$1,850$2,020
FY 2023$1,010$1,060$1,320$1,720$1,930

Two-bedroom rent in nearby York County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 04020
04001$1,550−10.9%
04002$1,550−10.9%
04004$1,990+14.4%
04005$1,920+10.3%
04006$1,750+0.6%
04014$1,880+8.0%
04020Current$1,740—
04027$1,890+8.6%
04028$1,880+8.0%
04030$1,820+4.6%
04038$2,210+27.0%
04042$1,920+10.3%

Questions about ZIP 04020 rents

How much will Section 8 pay for a two-bedroom in ZIP 04020?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,792, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,613 to $1,971 a month; under the ZIP-level Small Area FMR of $1,740 it would be $1,566 to $1,914. 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 04020 in?

ZIP 04020 is in the York County, ME (part) HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,792.

How much did fair market rent change in ZIP 04020 for FY 2027?

The two-bedroom FMR rose 1.8%, from $1,710 in FY 2026 to $1,740 in FY 2027. Since FY 2023 it has risen 31.8%.

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