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Kennebec County/Gardiner/04345

04345

ZIPSAFMR
Kennebec County, ME
Zillow

ZIP Investment Score

79Below average

095130300
BRFMR
Eff. Rent
0 BR$1,060$1,170
1 BR$1,140$1,250
2 BR$1,420$1,560
3 BR$1,980$2,040
4 BR$2,390$2,240
5 BR$2,749Not available
6 BR$3,161Not available
7 BR$3,635Not available
8 BR$4,180Not available

Purchase Price Calculator

Maximum purchase price
$169,899

Cost breakdown

+Likely effective rent$1,560
HUD FMR$1,420
Market rent$1,850
Est. payment standard (110%)Used$1,560
-Principal and interest-$859
Loan amount$135,919
Down payment$33,980
Rate6.50%
Term30 years
-Operating costs-$501
Property taxes-$170
Insurance-$175
Utilities$0
HOA$0
Management-$156
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$25,133(74.0% ROI)
Projected value
$182,962
Return breakdown
Property appreciation+$13,064
Loan principal paid down+$4,870
Rental cash flow+$7,200
5-year hold
+$43,010(126.6% ROI)
Projected value
$192,225
Return breakdown
Property appreciation+$22,326
Loan principal paid down+$8,684
Rental cash flow+$12,000
10-year hold
+$92,278(271.6% ROI)
Projected value
$217,485
Return breakdown
Property appreciation+$47,586
Loan principal paid down+$20,692
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.75
1 BR
0.81
2 BR
0.77
3 BR
0.96
4 BR
1.07
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 04345 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 04345 (Gardiner, ME) is $1,420 a month. That is unchanged from FY 2026. Gardiner is in the Kennebec County, ME non-metropolitan 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 county-wide two-bedroom FMR of $1,374. Among 38 ZIP codes in Kennebec County, 04345 has the 14th-highest two-bedroom rent (county range $1,280–$1,920). The median county two-bedroom FMR in Maine is $1,371, so ZIP 04345 is 4% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 04345
BedroomsFY 2027Change90–110% range
Studio$1,060−2.8%$954–$1,166
1BR$1,140+4.6%$1,026–$1,254
2BR$1,4200.0%$1,278–$1,562
3BR$1,980+8.8%$1,782–$2,178
4BR$2,390+10.1%$2,151–$2,629

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 04345
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,060$1,140$1,420$1,980$2,390
FY 2026$1,090$1,090$1,420$1,820$2,170
FY 2025$900$930$1,170$1,590$1,920
FY 2024$850$1,020$1,250$1,760$2,120
FY 2023$830$1,020$1,240$1,690$2,020

Two-bedroom rent in nearby Kennebec County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 04345
04338$1,370−3.5%
04343$1,370−3.5%
04344$1,280−9.9%
04345Current$1,420—
04346$1,430+0.7%
04347$1,280−9.9%
04349$1,920+35.2%
04350$1,440+1.4%
04351$1,340−5.6%
04352$1,280−9.9%
04353$1,280−9.9%
04355$1,380−2.8%

Questions about ZIP 04345 rents

How much will Section 8 pay for a two-bedroom in ZIP 04345?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,374, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,237 to $1,511 a month; under the ZIP-level Small Area FMR of $1,420 it would be $1,278 to $1,562. 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 04345 in?

ZIP 04345 is in the Kennebec County, ME non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,374.

How much did fair market rent change in ZIP 04345 for FY 2027?

The two-bedroom FMR was unchanged at $1,420 in FY 2027. Since FY 2023 it has risen 14.5%.

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