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Hancock County/Hancock/04640

04640

ZIPSAFMR
Hancock County, ME
Zillow

ZIP Investment Score

72Below average

095130300
BRFMR
Eff. Rent
0 BR$1,190$1,190
1 BR$1,200$1,200
2 BR$1,520$1,520
3 BR$2,100$2,100
4 BR$2,250$2,250
5 BR$2,588Not available
6 BR$2,976Not available
7 BR$3,422Not available
8 BR$3,935Not available

Purchase Price Calculator

Maximum purchase price
$163,955

Cost breakdown

+Likely effective rent$1,520
HUD FMRUsed$1,520
Market rentN/A
Est. payment standardN/A
-Principal and interest-$829
Loan amount$131,164
Down payment$32,791
Rate6.50%
Term30 years
-Operating costs-$491
Property taxes-$164
Insurance-$175
Utilities$0
HOA$0
Management-$152
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$24,506(74.7% ROI)
Projected value
$176,561
Return breakdown
Property appreciation+$12,607
Loan principal paid down+$4,699
Rental cash flow+$7,200
5-year hold
+$41,925(127.9% ROI)
Projected value
$185,500
Return breakdown
Property appreciation+$21,545
Loan principal paid down+$8,380
Rental cash flow+$12,000
10-year hold
+$89,889(274.1% ROI)
Projected value
$209,876
Return breakdown
Property appreciation+$45,921
Loan principal paid down+$19,968
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 04640 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 04640 (Hancock, ME) is $1,520 a month. That is unchanged from FY 2026. Hancock is in the Hancock 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 $1,484. Among 46 ZIP codes in Hancock County, 04640 has the 21st-highest two-bedroom rent (county range $1,360–$2,230). The median county two-bedroom FMR in Maine is $1,371, so ZIP 04640 is 11% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 04640
BedroomsFY 2027Change90–110% range
Studio$1,190−4.0%$1,071–$1,309
1BR$1,200−4.0%$1,080–$1,320
2BR$1,5200.0%$1,368–$1,672
3BR$2,100+1.4%$1,890–$2,310
4BR$2,250+8.2%$2,025–$2,475

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 04640
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,190$1,200$1,520$2,100$2,250
FY 2026$1,240$1,250$1,520$2,070$2,080
FY 2025$1,000$1,010$1,190$1,570$1,580
FY 2024area FMR$996$1,002$1,188$1,576$1,582
FY 2023area FMR$877$882$1,036$1,383$1,392

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

Two-bedroom rent in nearby Hancock County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 04640
04624$1,480−2.6%
04625$1,430−5.9%
04627$1,640+7.9%
04629$1,480−2.6%
04634$1,500−1.3%
04635$1,480−2.6%
04640Current$1,520—
04642$1,730+13.8%
04644$1,480−2.6%
04646$1,480−2.6%
04650$1,480−2.6%
04653$2,140+40.8%

Questions about ZIP 04640 rents

How much will Section 8 pay for a two-bedroom in ZIP 04640?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,484, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,336 to $1,632 a month; under the ZIP-level Small Area FMR of $1,520 it would be $1,368 to $1,672. 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 04640 in?

ZIP 04640 is in the Hancock County, ME non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,484.

How much did fair market rent change in ZIP 04640 for FY 2027?

The two-bedroom FMR was unchanged at $1,520 in FY 2027. Since FY 2025 it has risen 27.7%.

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