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Cumberland County/Steep Falls/04085

04085

ZIPSAFMR
Cumberland County, ME
Zillow

ZIP Investment Score

84Below average

095130300
BRFMR
Eff. Rent
0 BR$1,670$1,670
1 BR$1,900$1,900
2 BR$2,400$2,400
3 BR$2,960$2,960
4 BR$3,150$3,150
5 BR$3,622Not available
6 BR$4,166Not available
7 BR$4,791Not available
8 BR$5,509Not available

Purchase Price Calculator

Maximum purchase price
$294,723

Cost breakdown

+Likely effective rent$2,400
HUD FMRUsed$2,400
Market rentN/A
Est. payment standardN/A
-Principal and interest-$1,490
Loan amount$235,778
Down payment$58,945
Rate6.50%
Term30 years
-Operating costs-$710
Property taxes-$295
Insurance-$175
Utilities$0
HOA$0
Management-$240
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$38,309(65.0% ROI)
Projected value
$317,384
Return breakdown
Property appreciation+$22,661
Loan principal paid down+$8,447
Rental cash flow+$7,200
5-year hold
+$65,793(111.6% ROI)
Projected value
$333,451
Return breakdown
Property appreciation+$38,729
Loan principal paid down+$15,064
Rental cash flow+$12,000
10-year hold
+$142,442(241.7% ROI)
Projected value
$377,270
Return breakdown
Property appreciation+$82,547
Loan principal paid down+$35,895
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 04085 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 04085 (Steep Falls, ME) is $2,400 a month. That is up 8.1% from $2,220 in FY 2026. Steep Falls 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, 04085 is tied for the 14th-highest two-bedroom rent (county range $1,650–$3,440). The median county two-bedroom FMR in Maine is $1,371, so ZIP 04085 is 75% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 04085
BedroomsFY 2027Change90–110% range
Studio$1,670+9.2%$1,503–$1,837
1BR$1,900+9.8%$1,710–$2,090
2BR$2,400+8.1%$2,160–$2,640
3BR$2,960+9.6%$2,664–$3,256
4BR$3,150+7.1%$2,835–$3,465

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 04085
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,670$1,900$2,400$2,960$3,150
FY 2026$1,530$1,730$2,220$2,700$2,940
FY 2025$1,430$1,620$2,090$2,560$2,870
FY 2024$1,140$1,310$1,680$2,110$2,460
FY 2023$1,120$1,300$1,680$2,120$2,450

Two-bedroom rent in nearby Cumberland County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 04085
04074$2,660+10.8%
04077$2,340−2.5%
04078$2,340−2.5%
04079$1,930−19.6%
04082$2,340−2.5%
04084$2,160−10.0%
04085Current$2,400—
04091$1,700−29.2%
04092$2,190−8.7%
04093$2,260−5.8%
04096$2,510+4.6%
04097$2,4000.0%

Questions about ZIP 04085 rents

How much will Section 8 pay for a two-bedroom in ZIP 04085?

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 $2,400 it would be $2,160 to $2,640. 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 04085 in?

ZIP 04085 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 04085 for FY 2027?

The two-bedroom FMR rose 8.1%, from $2,220 in FY 2026 to $2,400 in FY 2027. Since FY 2023 it has risen 42.9%.

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