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York County/Gorham/04038

04038

ZIPSAFMR
York County, ME
Zillow

ZIP Investment Score

56Below average

095130300
BRFMR
Eff. Rent
0 BR$1,540$1,680
1 BR$1,750$1,920
2 BR$2,210$2,340
3 BR$2,730$2,610
4 BR$2,900$2,740
5 BR$3,335Not available
6 BR$3,835Not available
7 BR$4,411Not available
8 BR$5,072Not available

Purchase Price Calculator

Maximum purchase price
$285,807

Cost breakdown

+Likely effective rent$2,340
HUD FMR$2,210
Market rent$2,410
Est. payment standard (106%)Used$2,340
-Principal and interest-$1,445
Loan amount$228,645
Down payment$57,161
Rate6.50%
Term30 years
-Operating costs-$695
Property taxes-$286
Insurance-$175
Utilities$0
HOA$0
Management-$234
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$37,368(65.4% ROI)
Projected value
$307,782
Return breakdown
Property appreciation+$21,976
Loan principal paid down+$8,192
Rental cash flow+$7,200
5-year hold
+$64,166(112.3% ROI)
Projected value
$323,364
Return breakdown
Property appreciation+$37,557
Loan principal paid down+$14,608
Rental cash flow+$12,000
10-year hold
+$138,859(242.9% ROI)
Projected value
$365,857
Return breakdown
Property appreciation+$80,050
Loan principal paid down+$34,809
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.88
1 BR
0.87
2 BR
0.92
3 BR
1.05
4 BR
1.06
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 04038 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 04038 (Gorham, ME) is $2,210 a month. That is up 12.8% from $1,960 in FY 2026. Gorham 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, 04038 has the 9th-highest two-bedroom rent (county range $1,550–$3,010). The median county two-bedroom FMR in Maine is $1,371, so ZIP 04038 is 61% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 04038
BedroomsFY 2027Change90–110% range
Studio$1,540+14.1%$1,386–$1,694
1BR$1,750+14.4%$1,575–$1,925
2BR$2,210+12.8%$1,989–$2,431
3BR$2,730+14.7%$2,457–$3,003
4BR$2,900+11.5%$2,610–$3,190

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 04038
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,540$1,750$2,210$2,730$2,900
FY 2026$1,350$1,530$1,960$2,380$2,600
FY 2025$1,280$1,450$1,860$2,280$2,560
FY 2024$1,250$1,440$1,850$2,300$2,610
FY 2023$1,190$1,390$1,780$2,240$2,620

Two-bedroom rent in nearby York County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 04038
04020$1,740−21.3%
04027$1,890−14.5%
04028$1,880−14.9%
04030$1,820−17.6%
04038Current$2,210—
04042$1,920−13.1%
04043$2,020−8.6%
04046$1,920−13.1%
04047$1,760−20.4%
04048$1,920−13.1%
04049$1,920−13.1%
04054$1,880−14.9%

Questions about ZIP 04038 rents

How much will Section 8 pay for a two-bedroom in ZIP 04038?

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 $2,210 it would be $1,989 to $2,431. 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 04038 in?

ZIP 04038 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 04038 for FY 2027?

The two-bedroom FMR rose 12.8%, from $1,960 in FY 2026 to $2,210 in FY 2027. Since FY 2023 it has risen 24.2%.

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