Skip to main content
Loading page
Androscoggin County/Lewiston/04240

04240

ZIPSAFMR
Androscoggin County, ME
Zillow

ZIP Investment Score

88Below average

095130300
BRFMR
Eff. Rent
0 BR$1,190$1,260
1 BR$1,260$1,360
2 BR$1,650$1,700
3 BR$2,080$1,910
4 BR$2,420$2,170
5 BR$2,783Not available
6 BR$3,200Not available
7 BR$3,681Not available
8 BR$4,233Not available

Purchase Price Calculator

Maximum purchase price
$190,703

Cost breakdown

+Likely effective rent$1,700
HUD FMR$1,650
Market rent$1,730
Est. payment standard (103%)Used$1,700
-Principal and interest-$964
Loan amount$152,562
Down payment$38,141
Rate6.50%
Term30 years
-Operating costs-$536
Property taxes-$191
Insurance-$175
Utilities$0
HOA$0
Management-$170
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$27,329(71.7% ROI)
Projected value
$205,366
Return breakdown
Property appreciation+$14,663
Loan principal paid down+$5,466
Rental cash flow+$7,200
5-year hold
+$46,807(122.7% ROI)
Projected value
$215,763
Return breakdown
Property appreciation+$25,060
Loan principal paid down+$9,747
Rental cash flow+$12,000
10-year hold
+$100,639(263.9% ROI)
Projected value
$244,116
Return breakdown
Property appreciation+$53,413
Loan principal paid down+$23,226
Rental cash flow+$24,000

Public Housing Authority

Loading Public Housing Authority

Rolodex

Loading Rolodex

Market Alignment

Studio
0.92
1 BR
0.89
2 BR
0.95
3 BR
1.09
4 BR
1.12
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 04240 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 04240 (Lewiston, ME) is $1,650 a month. That is up 5.1% from $1,570 in FY 2026. Lewiston is in the Lewiston-Auburn, ME MSA. 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 $1,677. Among 29 ZIP codes in Androscoggin County, 04240 has the 22nd-highest two-bedroom rent (county range $1,430–$1,970). The median county two-bedroom FMR in Maine is $1,371, so ZIP 04240 is 20% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 04240
BedroomsFY 2027Change90–110% range
Studio$1,190+5.3%$1,071–$1,309
1BR$1,260+4.1%$1,134–$1,386
2BR$1,650+5.1%$1,485–$1,815
3BR$2,080+2.5%$1,872–$2,288
4BR$2,420+6.1%$2,178–$2,662

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 04240
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,190$1,260$1,650$2,080$2,420
FY 2026$1,130$1,210$1,570$2,030$2,280
FY 2025$890$980$1,250$1,640$1,820
FY 2024$750$880$1,110$1,460$1,630
FY 2023$750$840$1,070$1,410$1,590

Two-bedroom rent in nearby Androscoggin County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 04240
04228$1,680+1.8%
04230$1,680+1.8%
04236$1,770+7.3%
04238$1,460−11.5%
04239$1,430−13.3%
04240Current$1,650—
04241$1,680+1.8%
04243$1,680+1.8%
04250$1,740+5.5%
04252$1,970+19.4%
04253$1,480−10.3%
04254$1,430−13.3%

Questions about ZIP 04240 rents

How much will Section 8 pay for a two-bedroom in ZIP 04240?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,677, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,509 to $1,845 a month; under the ZIP-level Small Area FMR of $1,650 it would be $1,485 to $1,815. 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 04240 in?

ZIP 04240 is in the Lewiston-Auburn, ME MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,677.

How much did fair market rent change in ZIP 04240 for FY 2027?

The two-bedroom FMR rose 5.1%, from $1,570 in FY 2026 to $1,650 in FY 2027. Since FY 2023 it has risen 54.2%.

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