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Kennebec County/Readfield/04355

04355

ZIPSAFMR
Kennebec County, ME
Zillow

ZIP Investment Score

70Below average

095130300
BRFMR
Eff. Rent
0 BR$1,050$1,050
1 BR$1,060$1,060
2 BR$1,380$1,380
3 BR$1,780$1,780
4 BR$2,180$2,180
5 BR$2,507Not available
6 BR$2,883Not available
7 BR$3,316Not available
8 BR$3,813Not available

Purchase Price Calculator

Maximum purchase price
$143,151

Cost breakdown

+Likely effective rent$1,380
HUD FMRUsed$1,380
Market rentN/A
Est. payment standardN/A
-Principal and interest-$724
Loan amount$114,521
Down payment$28,630
Rate6.50%
Term30 years
-Operating costs-$456
Property taxes-$143
Insurance-$175
Utilities$0
HOA$0
Management-$138
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$22,310(77.9% ROI)
Projected value
$154,158
Return breakdown
Property appreciation+$11,007
Loan principal paid down+$4,103
Rental cash flow+$7,200
5-year hold
+$38,128(133.2% ROI)
Projected value
$161,962
Return breakdown
Property appreciation+$18,811
Loan principal paid down+$7,317
Rental cash flow+$12,000
10-year hold
+$81,529(284.8% ROI)
Projected value
$183,245
Return breakdown
Property appreciation+$40,094
Loan principal paid down+$17,434
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 04355 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 04355 (Readfield, ME) is $1,380 a month. That is down 6.1% from $1,470 in FY 2026. Readfield 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, 04355 has the 16th-highest two-bedroom rent (county range $1,280–$1,920).

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 04355
BedroomsFY 2027Change90–110% range
Studio$1,050−6.2%$945–$1,155
1BR$1,060−6.2%$954–$1,166
2BR$1,380−6.1%$1,242–$1,518
3BR$1,780−5.8%$1,602–$1,958
4BR$2,180−2.7%$1,962–$2,398

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 04355
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,050$1,060$1,380$1,780$2,180
FY 2026$1,120$1,130$1,470$1,890$2,240
FY 2025$1,090$1,090$1,410$1,770$2,110
FY 2024area FMR$857$860$1,104$1,374$1,622
FY 2023area FMR$754$759$971$1,203$1,443

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Kennebec County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 04355
04347$1,280−7.2%
04349$1,920+39.1%
04350$1,440+4.3%
04351$1,340−2.9%
04352$1,280−7.2%
04353$1,280−7.2%
04355Current$1,380—
04357$1,570+13.8%
04358$1,370−0.7%
04359$1,390+0.7%
04360$1,280−7.2%
04363$1,510+9.4%

Questions about ZIP 04355 rents

How much will Section 8 pay for a two-bedroom in ZIP 04355?

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 $1,380 it would be $1,242 to $1,518. 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 04355 in?

ZIP 04355 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 04355 for FY 2027?

The two-bedroom FMR fell 6.1%, from $1,470 in FY 2026 to $1,380 in FY 2027. Since FY 2025 it has fallen 2.1%.

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