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Hancock County/Swans Island/04685

04685

ZIPSAFMR
Hancock County, ME
Zillow

ZIP Investment Score

79Below average

095130300
BRFMR
Eff. Rent
0 BR$1,450$1,450
1 BR$1,450$1,450
2 BR$1,850$1,850
3 BR$2,550$2,550
4 BR$2,730$2,730
5 BR$3,139Not available
6 BR$3,610Not available
7 BR$4,152Not available
8 BR$4,775Not available

Purchase Price Calculator

Maximum purchase price
$212,993

Cost breakdown

+Likely effective rent$1,850
HUD FMRUsed$1,850
Market rentN/A
Est. payment standardN/A
-Principal and interest-$1,077
Loan amount$170,394
Down payment$42,599
Rate6.50%
Term30 years
-Operating costs-$573
Property taxes-$213
Insurance-$175
Utilities$0
HOA$0
Management-$185
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$29,682(69.7% ROI)
Projected value
$229,370
Return breakdown
Property appreciation+$16,377
Loan principal paid down+$6,105
Rental cash flow+$7,200
5-year hold
+$50,876(119.4% ROI)
Projected value
$240,982
Return breakdown
Property appreciation+$27,989
Loan principal paid down+$10,887
Rental cash flow+$12,000
10-year hold
+$109,597(257.3% ROI)
Projected value
$272,649
Return breakdown
Property appreciation+$59,656
Loan principal paid down+$25,941
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
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Tax rate
--
Mortgage rate
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ZIP 04685 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 04685 (Swans Island, ME) is $1,850 a month. That is down 1.6% from $1,880 in FY 2026. Swans Island 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, 04685 has the 4th-highest two-bedroom rent (county range $1,360–$2,230). The median county two-bedroom FMR in Maine is $1,371, so ZIP 04685 is 35% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 04685
BedroomsFY 2027Change90–110% range
Studio$1,450−5.2%$1,305–$1,595
1BR$1,450−5.8%$1,305–$1,595
2BR$1,850−1.6%$1,665–$2,035
3BR$2,550−0.4%$2,295–$2,805
4BR$2,730+6.2%$2,457–$3,003

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 04685
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,450$1,450$1,850$2,550$2,730
FY 2026$1,530$1,540$1,880$2,560$2,570
FY 2025$1,210$1,220$1,440$1,900$1,910
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. 04685
04672$1,480−20.0%
04673$1,480−20.0%
04674$1,560−15.7%
04675$1,630−11.9%
04676$1,480−20.0%
04677$2,230+20.5%
04679$1,360−26.5%
04681$1,360−26.5%
04683$1,640−11.4%
04684$1,480−20.0%
04685Current$1,850—
04693$1,730−6.5%

Questions about ZIP 04685 rents

How much will Section 8 pay for a two-bedroom in ZIP 04685?

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 $1,850 it would be $1,665 to $2,035. 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 04685 in?

ZIP 04685 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 04685 for FY 2027?

The two-bedroom FMR fell 1.6%, from $1,880 in FY 2026 to $1,850 in FY 2027. Since FY 2025 it has risen 28.5%.

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